The boom of the Indian stock market is like a child who does not want to get off the ride no matter what anyone says. Sensex and Nifty, which reached overbought levels following passing through the green signal for eight days in a row, were in the red last Friday, but on a week-to-date basis, they are up regarding 1 percent. Most global markets, including the US and Europe, ended the week with slight gains. This week, the announcement of interest rates in three countries including India, the Gujarat election result, the Covid situation in China, and the consequences of the price controls imposed by the G7 countries on Russian crude oil are lined up with many events that can influence the market.
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Indian market has risen, will it fall? Chinese covid jumps to worry Stock Exchange | Stock Market | Indian Stock Market | MM Premium | Economy | Business News | Malayalam News
written by Alexandra Hartman Editor-in-Chief
Inflation has started to come down, crude oil prices have come down and the rupee is slowly recovering, but there is a wave of concern once more in the stock market. A resurgence of covid in China and Britain and the Eurozone heading into recession are just some of the reasons. The relief of lower inflation but not only in Indian markets, but none of the global markets, including the US, made much of a move last week. As the Indian markets are at a high level, there is a slight concern regarding whether there will be a reversal. The expiration of November futures and options contracts this Thursday might cause market volatility. As there are no major announcements scheduled from the country, movements in global markets will have an impact here as well. Let’s check what they are.
Vienna Stock Exchange: Share turnover in October at EUR 4.15 billion
written by Alexandra Hartman Editor-in-Chief
From the beginning of the year up to and including October 2022, the Vienna Stock Exchange recorded share turnover of EUR 62.43 billion. Compared to the same period last year, this results in growth of 4 percent (January-October 2021: EUR 60.04 billion). In October 2022, the trading volume for equity securities was EUR 4.15 billion (EUR 5.08 billion in October 2021).
The Austrian shares with the highest turnover were OMV with EUR 576 million, ahead of Erste Group Bank with EUR 523 million and Verbund with EUR 436 million.
Stocks on the radar:Lenzing, FACC, Telekom Austria, Warimpex, Frequent, Vienna Airport, Rosgix, OMV, ATX, ATX Prime, ATX TR, Uniqa, RBI, SBO, Bawag, AMS, Andritz, Polytec Group, Kapsch TrafficCom, AT&S, Linz Textil Holding, Marinomed Biotech, Porn, Stick to it, Wolftank-Adisa, Oberbank AG trunk, mold, Rosenbauer, Addiko Bank, First group, Yes, yes.
HKEx: HKEX proposes new channel for specialised technology companies to list on HKEx
written by Alexandra Hartman Editor-in-Chief
At noon on October 19, the Hong Kong Stock Exchange issued a consultation document on the new listing rules for special technology companies, suggesting the establishment of new channels for special technology companies to be listed on the Hong Kong Stock Exchange. The new rules will apply to the five special technology industries. Companies in: new generation information technology; advanced hardware; advanced materials; new energy and energy conservation and environmental protection;
The main recommendations of the consultation paper include: Commercialization revenue threshold: A commercialized company is defined as a company that generated revenue from its specialized technology business of at least HK$250 million in the most recent audited fiscal year. Expected minimum market capitalization at listing: HK$8 billion (commercialized company) or HK$15 billion (non-commercialized company). All applicants must have engaged in R&D for at least three fiscal years before listing, and the R&D investment must account for at least 15% (commercialized companies) or 50% (non-commercialized companies) of the total operating expenses.
At the same time, the Hong Kong Stock Exchange also released its third-quarter financial report. Revenue and other income in the third quarter of 2022 were HK$4.318 billion, down 19% from the third quarter of 2021; net profit attributable to shareholders was HK$2.263 billion, down 30% from the third quarter of 2021.
In the first three quarters of 2022, HKEx’s revenue and other income were HK$13.255 billion, down 18% from the record high recorded in the first three quarters of 2021; net profit attributable to shareholders was HK$7.099 billion, down 28% from the first three quarters of 2021.
As of press time, the Hong Kong Stock Exchange was at HK$256, down 0.78%; it fell 42.87% during the year.