Inflows into India Have Spiked. Why?

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Inflows into India Have Spiked. Why?

Foreign funds are returning to Indian stocks in a big way, Bloomberg reported, investing $8.5bn this quarter, the highest since mid-2023. The boost follows the re-election of Prime Minister Narendra Modi and is being driven by India’s rising importance in global indexes. “Despite higher valuations, Indian equities remain attractive relative to other markets where growth prospects are more subdued,” said James Cheo, Chief Investment Officer for Southeast Asia and India at HSBC Global Private Banking and Wealth in Singapore.

Banks: The Future is Nuclear

Fourteen of the world’s largest banks and financial institutions, including Bank of America [BAC], Morgan Stanley [MS] and Goldman Sachs [GS], have pledged to increase support for nuclear energy, the Financial Times detailed. This commitment aligns with a goal set at the COP28 climate negotiations last year to triple global nuclear capacity by 2050. Financing challenges have long hindered the development of new nuclear plants, particularly in western nations.

Apollo Makes Intel an Offer

Apollo Global Management [APO] has reportedly offered to invest up to $5bn in Intel [INTC] as part of the chipmaker’s ongoing turnaround strategy. The proposed equity-like investment signals confidence in Intel’s future — despite the stock having lost some 50% of its value this year, according to Bloomberg. This news follows reports of Qualcomm [QCOM] exploring a friendly takeover of Intel, which could result in one of the largest M&A deals in the sector. Neither deal is guaranteed to go ahead.

Legacy Automakers Struggle to Keep Up

Global car manufacturers, including Toyota [TM] and Volkswagen [VWAGY], are trailing behind Tesla [TSLA] and Chinese competitors like Nio [NIO] and Xpeng [XPEV] in developing essential software for electric vehicles. Only Ford [F], General Motors [GM] and BMW [BMWYY] made the top 10 in Gartner’s latest “digital automaker index”, highlighting the challenges faced by legacy automakers as the industry shifts focus from engine performance to software-driven features, the Financial Times reported.

UAE: New Hub for Chip Manufacture?

Taiwan Semiconductor Manufacturing Co [TSM] and Samsung Electronics [SSNLF] are reportedly in discussions to establish significant new factories in the UAE to meet the growing demand for artificial intelligence (AI) computing, according to the Wall Street Journal. Executives from TSMC, the world’s largest chipmaker, have recently visited the UAE to explore plans for a plant complex that could rival its advanced facilities in Taiwan, although talks are in early stages.