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Wesfarmers dropped 2.8% after it flagged a gloomy start to fiscal 2022, even as it announced a surprise A$2.3 billion ($1.66 billion) buyback.

The Shanghai Composite Index logged a weekly gain of 2.8%, the biggest in three months, while the CSI300 index finished up 1.2% for the week.

The pan-European STOXX 600 index slipped 0.2% in early trading, with travel & leisure and banks leading declines after gaining for much of the week.

Promoters held 51.6 per cent stake in the company as of 30-Jun-2021, while FII and DII ownership stood at 18.85 per cent and 17.93 per cent, respectively.

The ban is also expected to be imposed on companies involved in ideology issues, said the person, declining to be identified as the matter is private.

On the National Commodity and Derivatives Exchange, soybean for September delivery rose by Rs 94, or 1.22 per cent, to Rs 7,795 per quintal with an open interest of 18,710 lots.

The stock quoted a 52-week high price of Rs 32050.0 and low of Rs 18214.4.

People who are “say maybe 10 years older than me, so in their 50s, they probably were in the market at the time, and they got burnt,” Yiu said in an interview at his Mayfair office. “They still think that tech today is the same thing as what happened then, and is going to go bust.”

“Our own judgement is that the economy does not need this quantum of liquidity and allowing ample liquidity conditions to continue for too long will create macro challenges down the line...“In terms of growth -- we think there has been a fairly swift cyclical recovery…On inflation; our view is this is not transitory, for various reasons.”

A total of 14,883 shares changed hands on the counter till 01:33PM (IST).