To access a PDF version of this newsletter, please click here here If you would like to receive this newsletter via email, please register at: here FACTORS TO WATCH No major events scheduled for the day. LIVECHAT - TRADE IN FOCUS Chris Rogers, leader of S&P Global Market Intelligence's Supply Chain analysis group Panjiva Research, speaks on the Phase 1 U.S.-China trade deal and what's expected for the next phase. To join the conversation at 12:30 pm IST, click on the link: refini.tv/2P8N0Wp INDIA TOP NEWS • Supreme Court rejects telecom firms' plea for relief on government dues The top court has rejected petitions by mobile operators including Bharti Airtel and Vodafone Idea seeking a review of its order late last year that they must pay the bulk of nearly $13 billion in dues to the government. • Malaysia talks to India over palm curbs as wider trade dispute looms Malaysia is talking to the Indian government and trade officials in a bid to resolve concerns over New Delhi's new palm oil import restrictions, a minister in Kuala Lumpur said on Thursday amid a trade spat between the countries. • India, U.S. closer to resolving some trade issues -Piyush Goyal Commerce Minister Piyush Goyal said New Delhi was in advanced stages to resolve some of the ongoing trade issues with Washington and was keen to expand ties further including a free trade pact. During Bezos visit, minister says Amazon's $1 billion investment is no big favour • Amazon hasn't done India any big favours by announcing a new $1 billion investment, its trade minister said on Thursday, laying bare tensions with the U.S. online retail giant during a visit to the country by its CEO Jeff Bezos. • CBI files case against Adani, government officials in coal supply deal India's federal investigating agency has filed a case against the country's biggest coal importer and trader Adani Enterprises and several government officials for alleged criminal conspiracy in a coal supply deal in 2010, a report filed by the agency said on Thursday. • JPMorgan says no notice from Supreme Court on Amrapali real estate case The local arm of JPMorgan said on Thursday that the bank has not received any communication from India's Supreme Court in a case relating to past transactions between the bank and a New Delhi-based real estate firm. GLOBAL TOP NEWS • China posts weakest growth in 29 years as trade war bites, but ends year on firmer note China's economic growth slowed to its weakest in nearly 30 years in 2019 amid a bruising trade war with the United States and sputtering investment, and more stimulus steps are expected this year to help avert a sharper slowdown. • Trump impeachment trial opens as watchdog faults White House on Ukraine The Senate impeachment trial on whether to remove U.S. President Donald Trump from office formally began on Thursday even as a congressional watchdog found that the White House broke the law by withholding security aid for Ukraine approved by Congress. • U.S. Senate passes North America trade deal, Canada still to approve The U.S. Senate on Thursday approved a revamp of the 26-year-old North American Free Trade Agreement that includes tougher rules on labor and automotive content but leaves $1.2 trillion in annual U.S.-Mexico-Canada trade flows largely unchanged. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures were almost flat at 12,371.50. • The Indian rupee is expected to open little changed against the dollar amid focus on better-than-expected data out of the U.S. and China. • Indian government bonds are likely to open lower, as additional supply from today’s weekly auction and debt switch auction next week may offset the impact of the announcement of fourth round of special open market operation. The yield on the benchmark 6.45% bond maturing in 2029 is likely to trade in a 6.58%-6.64% range till the auction results today. GLOBAL MARKETS • The S&P 500 rallied through the 3,300 mark for the first time on Thursday and the other main U.S. indexes also surged to record highs, fueled by tech stocks, solid retail sales data and upbeat quarterly earnings from Morgan Stanley. • Asian shares inched higher after global stock indexes and Wall Street posted more records, with strong corporate earnings and upbeat U.S. economic data adding to optimism after China and the U.S. signed a partial trade deal. • The dollar gained as U.S. data suggested the world's largest economy maintained a moderate growth pace at the end of 2019, reaching an eight-month peak against the safe-haven yen. • U.S. Treasury yields rose on Thursday on positive economic data and bank earnings, and higher demand for stocks. • Oil prices were steady, holding on to gains for now after Washington and Beijing inked a long-awaited trade deal. • Gold edged lower, on track to post its worst week in two months, as positive U.S. economic data and optimism over an interim U.S.-China trade deal boosted appetite for riskier assets and dented some of bullion's allure. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 70.91/70.94 January 16 63.28 crore (885.29) crore 10-yr bond yield 6.60 pct Month-to-date 468 crore (8,871) crore For additional data: India govt bond market volumes Stock market reports Non-deliverable forwards data Corporate debt stories [IN CORPD] Local market closing/intraday levels [IN SNAPSHOT] Monthly inflows [INFLOWS RTRS TABLE IN] ($1 = 70.95 Indian rupees) (Compiled by Benny Thomas in Bengaluru)
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