In the last one month equity markets have fallen by more than 5%. The Sensex is down over 2,000 points, while Nifty over 600 points. Given this downward trend, it is not surprising that high net-worth investors (HNIs) are getting jittery about their equity investments and are switching to fixed income investments.

SK Networks’ acquisition of AJ Rent a Car will be positive, said Samsung Securities on Sept. 27, upgrading the recommendation to a “buy” from a “hold” and raising the target price to 6,300 won (US$5.65) from 5,500 won.

A better and more constructive day all around for Asian equities as most markets reopened (S. Korea still off) for business. With both the Shanghai and Hang Seng opening firmer, a steady trend developed to return 1% for both indices. Remarks overnight from US President Donald Trump failed to assist US trading or external commitment, but core Asian equities tended to ignore this in favour of a recovery bounce. The Nikkei made headway after a morning rout, rallying over +0.4% by the close whilst the Yen played in the low 113’s. Shanghai and HSI were strong all day. The SENSEX saw the opposite price action to the Nikkei. Having open at the days highs, the balance of the time was spent hitting bids. It did manage a small bounce by the close but still lost -0.35% on the day. The INR is struggling to resist the 73 figure, but this does not look like it can survive for much longer. Expecting the Rupee to continue its weak trend unless some positive constructive action is taken to alleviate the issues. Obviously, the big FED news is too late for the cash markets, but futures are responding well with the Nikkei up around 1% so far.

The timeline for GC’s processed blood product in gaining approval from the US Food and Drug Administration is likely to be pushed back, said NH Investment and Securities on Sept. 27, downgrading the recommendation to a “hold” from a “buy” and lowering the target price to 220,000 won (US$197.66) from 240,000 won.