Global markets today have a boom atmosphere. The gift Nifty is trading with a gain of about 34 points. Asian markets are also open with a positive attitude. On Friday, the American markets closed with a strength of about one and a half per cent. After the announcement of former US President Donald Trump’s crypto reserve, there was a tremendous boom in cryptocurrency like Bitcoin, Ripple and Solana.
Market eye on China
China is expected to be around 5% of GDP growth rate. China’s budget deficit can reach 4% from 3% of GDP. At the same time, the target of inflation rate can be reduced from 3% to 2%. Consumption’s stake in the Chinese economy has been below 45%, which shows the first decline in 2024 since 2006.
Trump-Jalensky meeting inconclusive
On Saturday, the conversation between the US and Ukraine ended without any agreement. The two countries did not agree to the Critical Mineral Agreement. Trump said that if the President of Ukraine is ready for Jailonski peace, the conversation can begin again. At the same time, the European Union made it clear that it would continue to support Ukraine.
New tariff war can sprinkle
US Treasury Secretary Scott Besant indicated that Mexico is also planning to impose tariffs against China, which will be of the same level as American tariffs. The US has also asked Canada to impose tariffs against China. The new tariffs proposed by Trump will be applicable from March 4 on Canada and Mexico.
Asian markets move
Asian markets are visible today. The gift Nifty is in a strong position with a gain of 34 points. Japan’s Nikkei index is trading around 1.35% to around 37,667.79. At the same time, the Straight Times index is 0.38% rose. Taiwan’s market, however, is trading at 22,668.16 with a decline of 1.67%. Hong Kong’s Hangseng index rose by 1.17% to 23,210.46 points, while the Shanghai Composite Index is trading at 3,332.27 with 0.34% gains.
