Vistara Offers Flight Tickets From Rs. 999 In 24-Hour Sale

Vistara Offers Flight Tickets From Rs 999 In 24-Hour Sale

Vistara Offers Flight Tickets From Rs 999 In 24-Hour Sale

Vistara 24-hour festive sale: Lowest fare of Rs. 999 is one-way economy fare from Bagdogra to Guwahati.

Vistara has announced flight tickets from Rs. 999 in a limited-period sale. The festive sale is open for a period of 24 hours and applicable to one-way fares across all three booking classes, according to the airline’s website, Vistara is offering flight tickets at a discount of up to 80 per cent relative to standard last-minute fares across the economy, premium economy and business booking classes, according to its website. Under the scheme, flight tickets start from Rs. 999 in economy class, 2,199 in premium economy and Rs. 5,499 in business, according to Vistara.

Vistara 24-hour festive sale on flight tickets: booking details

Bookings for Vistara flight tickets under the 24-hour sale opened from 00:01 hours on Wednesday. Flight tickets under the scheme can be booked for travel between December 27, 2018 and April 10, 2019, both dates included, according to the carrier’s website.

(Also read: GoAir adds 24th domestic destination, offers flight tickets from Rs. 1,415)

A minimum of fifteen days of advance purchase is required for economy and premium economy class bookings under the scheme, and a minimum of three days for the business class, according to Vistara.

Seats are limited and are available on a first-come-first-served basis, Vistara said. These fares are all-inclusive, with no surprise fuel surcharges or taxes in addition to the stated fares.

Customers can make the bookings under the sale on the airline’s website –, mobile app (available on iOS and Android platforms), its airport ticket offices and call centre, and through online travel agencies and agents.


Climate change will cost economy hundreds of billions of dollars, government says in sweeping report

Bob Richling carries Iris Darden as water from the Little River starts to seep into her home on September 17, 2018 in Spring Lake, North Carolina. 

Bob Richling carries Iris Darden as water from the Little River starts to seep into her home on September 17, 2018 in Spring Lake, North Carolina.

Climate change will cost the U.S. economy hundreds of billions of dollars by the end of the century, damaging everything from human health to infrastructure and agricultural production, according to a government report issued on Friday.

The White House dismissed the congressionally mandated reported as inaccurate.

The report, written with the help of more than a dozen U.S. government agencies and departments, outlined the projected impact of global warming in every corner of American society, in a dire warning that is at odds with the Trump administration’s pro-fossil-fuels agenda.

“With continued growth in emissions at historic rates, annual losses in some economic sectors are projected to reach hundreds of billions of dollars by the end of the century – more than the current gross domestic product (GDP) of many U.S. states,” the report, the Fourth National Climate Assessment Volume II, said.

Global warming would disproportionately hurt the poor, broadly undermine human health, damage infrastructure, limit the availability of water, alter coastlines, and boost costs in industries from farming, to fisheries and energy production, the report said.


Chartists betting on these 10 stocks to deliver gains in next three weeks

Top equity indices consolidated in thin trading and managed to eke out gains during the truncated week gone by. The BSE Sensex rose 146 points, or 0.42 per cent, for the week to 35,158, while NSE’s Nifty added 32.20 points, or 0.31 per cent, to end the week at 10,585.

Nifty’s next critical resistance appears to be placed around 10,710, whereas on the downside, the bears may pick up momentum on a strong close below 10,500, said Mazhar Mohammad, Chief Strategist-Technical Research & Trading Advisory, Chartviewindia.

“It is looking like a directionless market, and for the time being, traders should focus on stock-specific opportunities on both directions until Nifty registers a The stock has traded in a rectangle formation for all of 2018 so far. A couple of signals have emerged, which point towards likely upward move in prices. The RS Line against Nifty Infra index has remained in an upward rising channel and has broken out of that as well. Against the broader CNX500 index too, the RS Line has broken out of a formation giving a strong move. Both of the RS Lines presently remain above its 50-week moving average which can be seen as a confirmation of the present set up. The PPO (Price Oscillator) has turned positive. The weekly RSI is also seen breaking out of a pattern while marking a bullish divergence against the price. Full stochastic has just bounced back from the oversold area. Resumption of an uptrend on the counter cannot be ruled out over coming days.

After marking a high around Rs 102, this stock has remained in a corrective decline. Though it slipped below the 50-week moving average (WMA), it is seen attempting to form a base in the Rs 67-72 area. The RS Line, when compared against the broader CNX500, is moving up again and is also seen crossing its 50-WMA, which can be seen as a confirmation, PPO has flattened its trajectory and is seen moving towards getting positive. The weekly MACD, too, is likely to report positive crossover in the coming days. A fresh buy signal is seen on weekly stochastic. Some upward revision in price in this stock cannot over the coming days be ruled out.

This counter appears to have registered a sustainable breakout above its 100-Day Moving Average which acted as a resistance in the past by thwarting the pullback rallies. With consecutive positive closes, it looks ripe for a decent pullback with targets placed around Rs 210. Hence, positional traders are advised to buy into this counter for a target of Rs 210 with a stop loss below Rs 174 on a closing basis.

For quite some time 100-day moving average acted as a supply point to this scrip which this counter appears to have successfully absorbed. With new swing highs in this pullback phase and a decent base around Rs 360 level, this counter appears to be gaining momentum. In such a scenario, we expect it to reach its target of Rs 447 level over time. Hence, positional traders should buy into this with a stop below Rs 360 on a closing basis.

This counter is looking ripe for a breakout as volumes are picking up as it is moving towards its higher of the consolidation zone Rs 185-192 levels. Hence, on such a breakout it can swiftly move towards its initial target of Rs 203 level. In anticipation of a breakout, positional traders shall buy at current prices and add further if available around Rs 187 level with a stop loss below Rs 184 on a closing basis.

This stock has taken off its weekly trendline resistance with a buy crossover in its momentum indicator MACD. The stock has started it Wave 5 up and it is expected to achieve minimum equality target of Rs 855 on the upside. On the lower side, Rs 797 is an immediate support, hence with that as a stop loss we recommend buying this stock.

This stock has provided a breakout from a falling wedge pattern and with that, it seems to have completed five waves declining structure. The momentum, indicator MACD has provided a buy crossover on the daily chart with a positive divergence whereas on the weekly chart the stock has provided a positive close, hence a 38.2% retracement of the entire fall is expected, so we recommend buying this stock.

This stock has formed multi bottoms on the daily charts. It has also closed in the positive territory in the last week after six consecutive positive closes. A minimum of 38.2% retracement of the entire fall is expected which comes to Rs 347.70. On the lower side Rs 308 is a crucial support hence that should be the stop loss on a closing basis. The momentum indicator MACD has also provided a buy crossover on the daily charts whereas on the hourly charts it has provided a buy crossover with a positive divergence thus supporting the short-term uptrend.

On the hourly chart, it seems that the stock is on a verge to give a breakout of its Inverse Head and Shoulder formation, which is a bullish reversal pattern and indicates an upside movement in the counter. Daily momentum indicator RSI has formed a positive divergence which points out for a positive breath in the stock.

This stock has been trading above its 21-day moving average, which is placed at Rs 496 level, indicating a positive trend in the stock. On a smaller time frame, the stock has given a breakout of its range-bound movement with above average volume which indicates a robust upside movement.

breakout on either side,” he said.

As crude cools, impact stocks see surge in traders’ interest

fall in oil prices has reduced fear that oil marketing companies may be asked to share fuel subsidy burden. In October, the government had cut excise duty on petrol and diesel by Rs 1.5 per litre and asked OMCs to subsidise the two fuels by Rs 1 per litre. Analysts see more upside in BPCLNSE 4.10 %. “BPCL may see some more up-move. It has support near Rs 282 and upside till Rs 309. If it goes above Rs 309, it can go up to Rs 330,” said Chandan Taparia, derivative analyst, Motilal Oswal.

The near-term prospects for the companies which have their fortunes tied to crude oil prices look bright.
Oil marketing, paint, and aviation sector companies are slowly seeing the tide turning in their favour as crude oil prices — a key factor for their businesses — have fallen 20 per cent from their recent highs. Derivatives data show traders are covering short positions and adding bullish bets in these stocks, while in the cash market these stocks have surged as much as 13 per cent so far in the November derivatives series. The near-term prospects for the companies which have their fortunes tied to crude oil prices look bright as many of them had fallen sharply in the recent market correction, analysts said. ET takes a look at five such oil price movement-linked stocks which derivative analysts are bullish on and details their outlook in the near term:

7 Marketing Trends To Budget For In 2019

While many of us in mid-November are thinking about the upcoming holidays, travel plans, and quality time with loved ones, business and marketing leaders are crunching the numbers and having tough discussions about their budgets for the new year before 2018 comes to a close.

As you’re looking back at the year’s successes and (let’s face it) shortcomings, it’s important to look ahead to what the marketing industry as a whole has in store in the near future and to seek out new opportunities to engage your audience. To help, here are seven marketing trends that leaders should consider as they’re preparing to budget for 2019:

1. Content has become core to marketing (and sales, too).

One of the biggest trends in content marketing is that it’s all but taken over marketing departments. Content has become core to everything your marketing team does, so you absolutely have to budget for it. If you haven’t already, create a content marketing plan. And if you have created a strategy, take some time to revisit it, make sure it aligns with the direction you’re wanting to go in 2019, and determine that you have the resources you need.

While you’re thinking through how content will work for you, don’t forget about the goals you share with your sales team — and how content plays a role in achieving them. Pay attention to sales trends and think through ways content can smooth your individual sales process. Content has become the fuel for so many of your marketing and sales departments’ biggest goals, and your budget should reflect that.

2. Chatbots will offer benefits beyond customer service.

Audiences are looking for more authentic, helpful interactions with brands, and they want those touchpoints to happen on their terms. Chatbots can help you meet your audience members where they are and inform your marketing strategy with insights directly from them at the same time.

According to recent research, 73 percent of marketers say they use their website analytics to research their audience, but only 42 percent say they use actual audience conversations. That’s a missed opportunity for better relationships and better messaging, and if marketers want to close that gap, they might want to look into chatbots.

Not only do chatbots give you insight into exactly what your audience members are looking for and when, but they also make it easy to deliver that information to them — all while collecting those insights to refine your messaging in the future. It’s a win-win,and that’s why it should be on your radar in 2019.

3. Alternative search formats are on the rise.

Just as there are different ways to communicate your message, there are different ways for audience members to search for your content. Voice search is on the rise, and with Google announcing plans to make visual content more useful in search, marketers need to be prepared for the rise of alternative search.

According to the recent research I mentioned earlier, more than half of marketers increased their use of image-based content, and more than one-third increased audio-only content. This indicates marketers are moving in the right direction by producing more and different types of content for audiences. But if you’re creating different kinds of content without also thinking through how your audience will find it, it’s not going to do a lot of good. As we go into 2019, prioritizing multimedia content and alternative search will be important.

4. Marketing and PR will continue to overlap.

As content keeps growing, marketing and PR teams are going to see more overlap. I’m not saying that these two teams are now orwill ever become one and the same. But brands are starting to realize that marketing and PR share some common goals and work well together, and they’re making it a point to bring these two teams into closer proximity.

PR has evolved a lot in recent years. It’s less about the templated, mass-distributed messaging of the past and much more about engaging content that’s valuable to brands, reporters, and their audiences. Now if helpful, engaging content sounds familiar, that’s because it’s central to what marketing is all about. Marketing and PR can and should work together to enhance each other and deliver more value to your audience — and your bottom line.

5. Security and data privacy will be major concerns.

To say it’s not been a great year for privacy would be an understatement. If you value online security and the privacy of your information, then the seemingly endless stream of news stories about data breaches and hacks might be making you uneasy. And your audience probably feels the same way.

Online security and the protection of personal information are growing demands for all consumers, and marketing leaders must accommodate this development. The 2018 rollout of the General Data Protection Regulation in the EU was a big step in that direction. As audience trust in media declines and concern over privacy grows, marketers will need to put the processes in place to responsibly collect, store, and protect their audience members’ information to maintain the trust they’ve worked so hard to earn.

6. Personalization and authenticity will separate successful marketers from those who just contribute to noise.

To be honest, there’s no good reason in this day and age for anyone to receive generic messages and completely irrelevant offers in his or her inbox (or anywhere, for that matter). With the endless amount of data you have available, the technology that can analyze it and help you put it to use, and the tools available to scale that information across interactions, your audience members should feel special all the time.

They’re already bombarded with more content than they can handle, and you don’t want to just add to the noise. Technology doesn’t have to make you more impersonal. It can make marketers better communicators. Use it to (securely) collect relevant data, and turn those data points into insights that can guide your messaging. The more advanced these tools get, the higher your audience’s expectations for genuine, helpful, personalized content will be.

7. Less will be more.

In an article about trends to consider for 2019, I know it probably sounds weird to say that maybe we should be trying fewer things, but hear me out. Things evolve rapidly, especially in marketing and communication. There’s constantly something new that’s demanding your attention as a marketer and your audience members’ attention as content consumers.

In the race to take advantage of the next big thing, some marketers may be trying to do too much at once — which only leaves them with lots of partially realized investment payoffs, a potentially jumbled message, and audiences that suffer from their lack of consistency.

So rather than dive headfirst into each trend as it emerges, remember the members of your audience and what is truly best for them. That should be your guiding light. Assess everything carefully, make sure you’ve got a plan to actually measure whatever you try, and always prioritize your audience experience.

As marketing continues to evolve, pay attention to different speakers

, trusted content sources, and other marketing leaders you respect so that you are prepared for your budget talks. Hopefully these seven marketing trends that are shaping the industry will help you as you sit down to allocate dollars and set goals for 2019.


Defaulted on home loan EMIs: Know your rights in case debt collectors knock at your door

In 2016, Jayesh Mathur residing in Delhi purchased a home by taking a loan from PSU bank. At that time he had over-stretched his financial capability while buying this property. Nowadays, with ease of getting loans from banks, housing finance companies and NBFCs there are several millennial like Mathur who opt to purchase a home at start of their professional life. They enjoy to the fullest while paying partly through EMIs. However, with other prior financial commitments towards his family and rising children education expenses he started defaulting on home loan EMIs from following year. This led to face-off with debt collectors (recovery agents) from bank at his door step very often.

Impact of defaulting on home loan EMIs

Amit Wadhwani, Co-founder, Sai Estate Consultants said, “If the default continues for six months, banks give the borrower a two month grace period to regularise the repayment. Failure to do so will result in banks declaring the loan a non-performing asset (NPA).” Bank can auction the property/collateral to recover its debt and reduce their NPAs.

Banks are primarily interested in getting their money back than in taking legal recourse. A legal recourse involves auctioning a house which is time consuming. Hence, banks follow up the matter with the borrower through debt collectors for at least six months before taking any legal action on property.

Rights of borrowers while face-off with debt collectors on default of home loan EMIs

i. Right to check the identity

With increasing number of frauds roaming around in the city, borrowers are provided with the right to ask and check the ID cards of recovery agents as issued by banks and NBFCs before starting with the conversation about pending dues.

ii. Right to privacy

As per this right, agents can’t share or discuss the issue of your impending debts with other people. Rachit Chawla, Founder and CEO, Finway said, “If you found them doing so, you can file a complaint against him with banks and NBFCs and can even take a legal action.”

iii. Right to humane treatment

Chawla explained, “According to this, recovery agents need to be decent and civilized in their approach. Respecting your personal space, the recovery agents are clearly directed to contact the borrowers between 7 am and 7 pm.” On violation, borrowers are free to take legal action supported with all the valid proofs.

Things that should be legally pursued by the borrower on default of home loan EMIs

i. Approach your lending bank on default of loan

Inform your bank about the current financial situation, this will act as a proof for the recovery agent to know the borrower well.

ii. Apply for restructuring of home loan

The borrower has an option to restructure his loan when there is a financial crunch. Wadhwani said, “In many cases the banks offer the borrower a flexible and easy option to repay the home loan while restructuring.” After checking the restructured proposal from bank and understanding details the borrower can then decide to accept it and continue to repay outstanding loan instead of defaulting.

iii. One time settlement

The borrower can be in a dreadful situation when he cannot pay any amount to the bank or NBFC. Wadhwani suggested, “You can settle the loan via a small payment where up to 90% of the principal and 100% interest amount is waived off.” However, in this case if the borrower has accepted to do so, the credit report will reflect the fact that you could not repay the loan amount completely and it was settled with one time payment. This will henceforth, affect your credit score while borrowing.


ADNOC CEO says oil and gas industry a critical enabler of economic growth in 4th industrial age in ADIPEC keynote address


Abu Dhabi — The global oil and gas will be a critical enabler of economic growth in the 4th Industrial Age, according to His Excellency Dr. Sultan Ahmed Al Jaber, UAE minister of state and group CEO of the Abu Dhabi National Oil Company (ADNOC).

Delivering the opening keynote address, today, at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), one of the world’s leading oil and gas conferences and exhibitions, H.E. Dr. Al Jaber said the world is on the verge of an era of unprecedented prosperity. This will be driven, he said, by rapid advances in technology and a global middle class, which will grow to five billion people by 2030, creating greater demand for energy and products derived from oil and gas.

“We are at the cusp of a new age of opportunity for our industry, an era in which digital innovation is delivering unprecedented levels of progress,” H.E. Dr. Al Jaber told the audience of government ministers, industry CEOs, policymakers and decision makers. “This era, known as the 4th Industrial Age, is creating a paradigm shift in global growth and driving demand for our products. Our industry must step up to enable this massive step-change in global development.

“In short,” H.E. Dr. Al Jaber added, “this mission can be given a simple name: Oil and Gas 4.0.”

H.E. Dr. Al Jaber said ADNOC recognizes that to fulfill the mission of Oil and Gas 4.0, it must leverage all its resources, its partnerships and, in particular, the latest technologies, if it is to continue to thrive and deliver on the ambitious strategic objectives of its 2030 smart growth strategy.

“All this is only the start of a new era at ADNOC,” he said, adding that ADNOC is continuing to put in place the building blocks that would allow it to seize the opportunities created by Oil and Gas 4.0, emphasizing the strategic oil and gas announcements, made recently by Abu Dhabi’s Supreme Petroleum Council (SPC), which will see ADNOC increase its oil production capacity to 4 MMbpd by 2020 – and to 5 MMbpd by 2030 – to meet growing global demand. In addition, ADNOC will develop its vast untapped gas resources.

“As we set out to meet these ambitious goals, we will access our undeveloped reservoirs, tap into our gas caps and further capitalize on our sour gas. Today, we are able to make this happen by thinking outside the box, leveraging technology and reframing our business model. This has finally unlocked the commercial formula that will enable the UAE to attain self-sufficiency and transition to becoming a potential net exporter of natural gas.” H.E. Dr. Al Jaber said. “We are also taking steps, never taken before, to realize our comprehensive gas strategy.

“For the first time, we will jointly develop our unconventional fields in a concession partnership with Total. In addition, our strategy will ensure we remain a reliable supplier of LNG well into the future.”

H.E. Dr. Sultan added, “While advances in technology are impacting every industry, it is time for us to focus our attention on how it can advance our industry,” H.E. Dr. Al Jaber said.  “At ADNOC, we believe technology can enhance our operational efficiency, drive performance, maximize profitability and empower our people.”

ADNOC, he said, is applying artificial intelligence and the science of predictive analytics to significantly reduce maintenance costs and building out its state-of-the-art Panorama Digital Command Center to mine for, monitor and measure terabytes of information across its operations. And yet, ADNOC is only scratching the surface of how technology can transform its potential, he declared.

“Our ambition is to extend technology’s power across our entire value chain from drilling platforms to trading platforms,” H.E. Dr. Al Jaber said. “By embedding innovation into every aspect of our business, we are determined to make ADNOC the destination of choice for a highly skilled, digitally native workforce and a home for the best and the brightest of our young people.”

H.E. Dr. Al Jaber also emphasized the importance of ADNOC’s downstream expansion. “This expansion capitalizes on our high-grade feedstock, proximity to growth markets and best-in-class logistics to create an integrated plug and play ecosystem, an ecosystem where I invite partners to invest and grow alongside ADNOC as we continue on our journey to diversify the UAE’s economy, enable in-country value and support GDP growth,” he said.

Following H.E Dr. Sultan Al Jaber’s speech, a special ministerial panel discussion took place – entitled, ‘Reshaping Markets: Continuing the Global Energy Discussion, with the participation of H.E. Suhail Al Mazrouie, minister of energy, United Arab Emirates; H.E. Khalid Al Falih, minister of energy, industry and mineral resources, Kingdom of Saudi Arabia; and H.E. Mohammad Barkindo, secretary general of the Organization of Petroleum Exporting Countries (OPEC).

Hosting more than 80 ministers, CEOs, and global oil and gas business leaders as speakers, ADIPEC has convened the companies, decision- and policy-makers who shape the future of oil and gas supply, for four days of focused business, dialogue and knowledge-transfer that addresses today’s energy challenges and defines tomorrow’s hydrocarbon landscape.

ADIPEC’s international technical and strategic conference spans 200 sessions, with 980 expert speakers and over 10,400 delegates. The technical conference program, organized in collaboration with the Society of Petroleum Engineers (SPE), sets the international standard for the exchange of best-practice and operational excellence in the world of energy, with all technical abstract submissions put through a rigorous evaluation process by the technical program committee. Sessions cover upstream, midstream and downstream sectors, including specialized program such as offshore and marine.

Alongside the conference are the landmark ADIPEC exhibition areas, underpinning the event’s status as a premier showcase for suppliers and customers across the oil and gas industry. For 2018, ADIPEC has attracted more than 2,200 exhibiting companies, including 38 National Oil Companies and International Oil Companies, and 30 international country pavilions.


EMERGING MARKETS-LatAm stocks post worst week in three months, currencies dip

Image result for EMERGING MARKETS-LatAm stocks post worst week in three months, currencies dip

updates stock and currency prices, adds quote) Nov 9 (Reuters) – Latin American stocks recorded their worst weekly performance in three months on Friday, with muted sentiment toward Mexico persisting a day after a senator’s proposal to cap and eliminate certain banking commissions. The proposal has tarnished investor sentiment toward Mexican President-elect Andres Manuel Lopez Obrador’s government, which has yet to take office, despite his signaling on Friday he would not support the bill. The proposal comes less than two weeks after an already started airport megaproject was scrapped following a public consultation. The MSCI index of Latin America stocks fell 0.7 percent on the day, which combined heavy losses in the previous three sessions consigned it to a 3.7 percent drop for the week. While Mexico’s benchmark stock index was little changed after retracing heavy intraday losses following Lopez Obrador’s statement on the banking bill, sentiment toward banking shares remaining cautious. Grupo Financiero Banorte SAB de CV lost 1.8 percent on the day. “The (senator’s) bill adds to the perception of market unfriendliness of the new administration, coming shortly after the airport cancellation,” wrote Dirk Willer, managing director and head of emerging market strategy at Citigroup, in a client note. “We have a bearish bias over the medium term, as (Lopez Obrador) has promised to hold more referendums, possibly over energy reform.” Mexico’s peso firmed about 0.5 percent, making up a fraction of its 1.6 percent slide on Thursday. The country’s central bank has its next meeting scheduled in less than a week’s time. Juan Carlos Alderete, a senior economist for Mexico with Banorte said he expects the central bank to raise rates by 25 basis points to 8 percent, citing factors including higher upside risks to inflation and the high volatility involved in the peso’s recent weakness. Regional foreign exchange markets fared only slightly better, but a firming in Brazil’s real on incoming President Jair Bolsonaro’s comments on pension reform held the MSCI index of Latin America currencies from declining more than 0.6 percent. The right-wing politician said he would like to see some form of pension reform, much watched for among investors, passed this year to make it easier to deal with the fiscal deficit after he takes office on Jan. 1, 2019. The Bovespa index was flat as gains among financial stocks were largely negated by losses in materials with iron ore miner Vale falling 4.2 percent. In Argentina, the peso firmed about 0.2 percent, with traders ascribing the modest move to the central bank adjusting minimum cash balances to curb speculation in the currency.

However, local stocks fell about 2.7 percent on broad-based losses, as the overhang of a decline on Wall Street sent the benchmark to its lowest in more than a week and a half. Chile’s stocks benchmark fell 0.9 percent, as all but four stocks on the benchmark declined.


Shares of Apple suppliers in Asia sink amid worries about iPhone demand

Philip W. Schiller, Senior Vice President, Worldwide Marketing of Apple, speaks about the the new Apple iPhone XR at an Apple Inc product launch event at the Steve Jobs Theater in Cupertino, California, September 12, 2018.

Shares of some major Apple suppliers fell in Asian trading Tuesday — some to multi-year lows — after the iPhone maker’s stock plunged on concerns about customer demand.

Apple dropped 5 percent overnight in New York trading after Lumentum, a manufacturer of lasers that can sense in 3-D, said it received a request from one of its largest customers to “materially reduce” shipments to them. Lumentum shares dropped nearly 33 percent. The company did not name Apple in Monday’s report, but previously listed the tech giant as its largest customer in a filing for fiscal year 2018.

Also on Monday, TF International Securities’ Ming-Chi Kuo reversed his view on iPhone XR sales by cutting his outlook for shipments by 30 million units. The reduction followed a Nikkei report earlier this month, citing supply chain sources, that Apple told Foxconn and Pegatron to stop plans for additional iPhone XR-related production lines.

The worries about slowing iPhone demand spilled over into shares of Apple suppliers in Tuesday trading in Asia, where most of the companies are based.

In Taiwan, Hon Hai Precision, better known as Foxconn, fell more than 2 percent to its lowest in nearly a month.

Pegatron briefly fell more than 5 percent to its lowest since May 2014, before recovering losses and trading higher. Largan Precision also temporarily tumbled more than 5 percent to its lowest since July 2016 before reversing and rising more than half a percent.

In Japan, Panasonic declined 2.5 percent and Alps Electric dropped nearly 5.8 percent, both to their lowest since late 2016. Nitto Denko fell more than 4 percent.

Hong Kong-traded AAC Technologies briefly fell more than 7 percent to its lowest in more than two years, before recovering much of its losses.

In Shenzhen, Luxshare fell more than 5 percent to its lowest in a month, while Suzhou Anjie Technology fell more than 1 percent.

The major Asian stock indexes pared opening losses by midday Tuesday..


Prudential already has a large footprint in China — the challenge is to grow that, says its CEO

Jason Alden | Bloomberg via Getty Images

China is committed to opening up its insurance sector just as it’s indicated, but it will be on its own time, said Mike Wells, Prudential Group CEO on Tuesday.

“Beijing is saying they have a plan for greater opening, and I think like everything in China the time frame is misaligned with U.S. time frames,” Wells told CNBC at the Singapore FinTech Festival.

“You’re not going to succeed across Asia if you’re not successful in China,” Wells said.

Prudential, Britain’s largest insurer, has been expanding into China for years. Prudential has a 50-50 joint venture with Chinese conglomerate Citic.

“We have licenses in about 70 percent of the economic footprint now with China, so our biggest challenge is growing into that footprint quickly,” Wells said.

China said this year it would accelerate a plan to lift the foreign ownership restriction in life insurance companies to 51 percent and eventually fully scrap the restriction.

“I think China’s not looking for a flood of foreign models, insurers and management teams in the market but they are saying ‘We want the expertise, the products, the capabilities,'” he said.

Since August, there have been media reports that China’s most valuable insurer Ping An Insurance Group is looking to buy Prudential’s Asian business.

Last month, Prudential’s Asia chief executive, Nic Nicandrou, said the insurer had not received any offer for the regional business.

Asked about the Ping An deal, Wells said he was unable to comment on mergers and acquisitions, but that Prudential now has its hands full spinning off its U.K. business.

“It’s not off the table but … our days are pretty full right now,” Wells said.