Asian Shares Got Off To A Hesitant Start On Thursday

Asian markets trade mixed: Asian shares got off to a hesitant start on Thursday as investors feared a looming US trade war with Mexico would further depress global growth, even as they wagered central banks would have to respond with fresh stimulus.

Wall Street's major indexes rose on Wednesday as investors bet on a Federal Reserve interest rate cut after weak private sector jobs data and hopes grew that the United States and Mexico would reach an agreement to avoid US tariffs on Mexican goods.

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Bharti Airtel Proceed With An Initial Public Offering For Admission

Bharti Airtel's subsidiary IPO: Airtel Africa, a subsidiary of Bharti Airtel proceed with an initial public offering for admission and listing of its shares on the main market of the London Stock Exchange.

The offer is targeted to raise USD 750 million and will be used to reduce the net debt. Further, Airtel Africa is also considering a listing of its shares on the Nigerian Stock Exchange.

ICICI Bank and Axis Bank shares fell around a percent each intraday on June 4 after global rating agency Fitch downgraded both by a notch saying financial health of the private sector banks has weakened.

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The Sensex Is Down 132.09 Points Or 0.33% At 40135.53, And The Nifty Down 37.30 Points

The Sensex is down 132.09 points or 0.33% at 40135.53, and the Nifty down 37.30 points or 0.31% at 12051.20. About 300 shares have advanced, 325 shares declined, and 38 shares are unchanged.

Wipro, Dr Reddy's Lab, Wipro, Indiabulls Housing, PFC, NTPC, L&T, ITC and Titan are some of major gainers on the indices, while losers are TCS, Zee Entertainment, ICICI Bank, Axis Bank HCL Tech, BPCL and HPCL.

Among sectors, except infra and pharma all other indices are trading lower.

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Wall Street Ends Lower: The Three Major US Stock Indexes Declined On Monday

Shares in Asia inched higher and safe-haven assets gave up some overnight gains on Tuesday, as investors paused for breath after a volatile Wall Street session, but deeper concerns about growth have capped broader improvements in risk sentiment.

The three major US stock indexes declined on Monday on weaker-than-expected economic data, while shares of Alphabet, Facebook and Amazon.com fell sharply on fears the companies are the targets of US government antitrust regulators, putting pressure on the tech-laden Nasdaq.

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Bajaj Auto Reported A 3 Percent Increase In Its Sales At 4.19 Lakh

Bajaj Auto reported a 3 percent increase in its sales at 4.19 lakh units for May, against 4.07 lakh units sold in same month last year.

Domestic sales increased 5 percent to 2.35 lakh units against 2.24 lakh units while exports increased 1 percent to 1.83 lakh units against 1.82 lakh units.

Motocycle sales jumped 7 percent to 3.65 lakh units, but three-wheeler sales fell 16 percent to 54,167 units compared to same month previous fiscal.

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Benchmark Indices Opened Marginally Higher With Nifty Reclaiming 11,950 Levels

Benchmark indices opened marginally higher with Nifty reclaiming 11,950 levels despite correction in global markets.

HPCL, BPCL, IOC, Hero Motocorp, Bharti Infratel, HDFC, GAIL and Wipro gained. Tata Motors, Yes Bank, Eicher Motors, M&M, Hindalco and Maruti are under pressure.

Indian markets are expected to open positive on the back of a sharp decline in global crude oil prices. Also, markets are expected to react to GDP data and would watch developments on the global trade war situation, ICICI Direct said.

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Major Stocks In Asia Were Trading Lower Amid Increasing

Major stocks in Asia were trading lower amid increasing concerns over the state of global trade which could hit global growth.

China's Shanghai Composite was down 0.7 percent, Japan's Nikkei fell over a percent and Hong Kong's Hang Seng declined 0.5 percent.

SGX Nifty indicated higher opening in equity markets despite correction in global peers following fresh trade concerns between US and Mexico.

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