Bangladesh, Dhaka (BBN) – Bangladesh Business News prepares Wednesday’s evening business round up compiling reports, published by different newspapers and news portals.
Bangladesh’s stocks end 2020 on a positive note
Bangladesh’s tocks extended the winning streak for the sixth straight days on Wednesday, with key index crossing the 5,400-mark after 18 months, the last trading day of the year 2020. DSEX, prime index of Dhaka Stock Exchange (DSE), went up by 43.80 points or 0.81 per cent to settle at 5,402. It has been the highest since June 30, 2019, when DSEX was 5,421. The Chittagong Stock Exchange also ended higher with its All Shares Price Index – (CASPI) – gaining 117 points to close at 15,592 while the Selective Categories Index – CSCX rising 70 points to close at 9,403.
Good news for Bangladesh and many others as ‘game changer’ Oxford vaccine gets UK nod
AstraZeneca Plc and the University of Oxford’s Covid-19 vaccine won UK clearance, marking the first approval worldwide for a shot that’s faced questions but will be key to mass immunisations. The Oxford vaccine is considered a game-changer as it does not have to be stored at very low temperatures. So it came as good news for many developing countries like Bangladesh and India. Though the vaccine faced so many questions before getting approval, it will be a key to mass immunisations.
BSEC allows brokerage houses to open new branch office
The stock market regulator of Bangladesh has allowed brokerage houses to open new branch offices across the country after nine years following the long-standing demand of the stockbrokers. The Bangladesh Securities and Exchange Commission (BSEC) sent a letter to the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) on Wednesday in this regard. The commission withdrew the earlier suspension order of all activities regarding opening new branch offices of the brokerage houses under the stock exchanges issued on February 22, 2011, according to the letter.
Indian rupee rises by 11 paisa to end at over 2-month high
Rising for the fifth straight session, the rupee on Wednesday appreciated by 11 paisa to close at more than two-month high of 73.31 against the US dollar.
Asia-Pacific stocks mixed as dollar weakens; China revises 2019 GDP growth lower
Stocks in Asia-Pacific were mixed in Wednesday trade after major indexes on Wall Street snapped their multi-day winning streaks overnight. Meanwhile, the dollar weakened against other major currencies. Mainland Chinese stocks were higher by their close: The Shanghai composite gained 1.05% to 3,414.45 while the Shenzhen component advanced 1.656% to 14,201.57. Hong Kong’s Hang Seng index rose about 1.6%, as of its final hour of trading. Wednesday was the final trading day in 2020 for stocks in Japan and South Korea as their markets will be closed on Thursday.
Oil up on hopes of recovery in demand, lower US inventories
Oil gained more ground on Wednesday as a U.S. coronavirus fiscal aid package and a decline in crude oil inventories lifted prices. Brent crude futures rose 19 cents, or 0.4%, to $51.28 a barrel, by 0255 GMT and U.S. West Texas Intermediate (WTI) crude rose 29 cents, or 0.6%, to $48.29. “Oil prices have remained supported by a weaker U.S. dollar overnight and have finally found a friend in the API inventory report,” said Stephen Innes, chief global market strategist at Axi, a broker.
Gold rises as dollar dips on prospect of higher US aid
Gold prices rose on Tuesday as the dollar weakened after the approval of larger coronavirus relief checks by Democratic-led U.S. House of Representatives, while improved risk appetite kept it below last session’s one-week high. Spot gold rose 0.4% to $1,877.75 per ounce. The metal climbed as much 1.3% on Monday after U.S. President Donald Trump’s approval of a $2.3 trillion stimulus package. U.S. gold futures climbed 0.1% to $1,882.80.