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 Beware of looming war clouds in Asia- Pak-Iran conflict escalates–Avoid overnight carry-over positions.

Dollar at 1-month high

The US dollar held close to a one-month peak versus major peers on Thursday. The US dollar index, which measures the currency against a basket of six rivals, traded little changed at 103.36 in the Asian morning, after reaching 103.69 on Wednesday for the first time since December 13.

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Asian Markets

Asian markets traded mixed on Thursday tracking overnight sell-off on Wall Street, with mainland Chinese shares touching a near-five-year low.

Japan’s Nikkei 225 rose 0.29%, while the Topix gained 0.28%. South Korea’s Kospi was up 0.12% and the Kosdaq rose 0.39%. Hong Kong’s Hang Seng index futures were flat.

Gift Nifty

Gift Nifty was trading around 21,415 level as compared to Nifty futures’ previous close of 21,587, indicating a negative start for the Indian equity indices.

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US Stock Market

US stock market indices ended lower on Wednesday, with the benchmark S&P 500 falling to its lowest in over a week, as Treasury yields spiked after strong December US retail sales data diminished hopes of early interest rate cut by the US Federal Reserve.

The Dow Jones Industrial Average dropped 0.25% to 37,266.67, while the S&P 500 fell 0.56% to end at 4,739.21. The Nasdaq ended 0.59% lower at 14,855.62.

Among stocks, Amazon, Nvidia and Alphabet shares declined between 0.5% and 1%. Tesla share price fell 2%. Morgan Stanley dipped 1.8, while Bank of America and Citigroup each lost about 1%.

Spirit Airlines shares tumbled 22%, Ford Motor declined 1.7%, while Boeing gained 1.3%.

US Retail Sales Data

US retail sales rose more than expected in December, the Commerce Department data showed. Retail sales rose 0.6% last month after an unrevised 0.3% gain in November. Economists polled by Reuters had forecast retail sales would gain 0.4%. Sales increased 5.6% on a year-on-year basis in December.

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