India's Nifty Fifty Index was up Monday on optimism over the swearing in of new Prime Minister Narendra Modi,63,who is seen as business-friendly.On Tuesday,Mr.Modi will have bilateral meetings with foreign leaders who are attending the ceremony,most notably with Pakistani Prime Minister Nawaz Sharif,whose presence at the event is unprecedented.Relations between the neighbouring countries have traditionally been tense.*
The MSCI Asia-Pacific index rose 0.29% in early Monday trading.US markets are closed for Memorial Day,which is considered the first of the summer holidays.Shanghai copper gained on declining stockpiles of the metal.*
Thailand's military coup received the approval of King Bhumibol.The army will name an interim premier today.At least hundreds of protestors demonstrated against the regime in the streets of Bangkok.*
In sport,Australia's Adam Scott won the Crowne Plaza Invitational at The Colonial in Fort Worth,Texas.The World Number One shot a nine under par 66 and beat American Jason Dufner in a playoff.He is the first person to win the Texas grand slam-all four PGA tournaments played in Texas.Scott is playing in The Memorial Tournament in Dublin,Ohio this week.
At the Formula One Monaco Grand Prix,AMG Petronas Mercedes continued its sweep of the series as teammates Nico Rosberg of Germany and Great Britain's Lewis Hamilton took first and second,respectively.Red Bull Racing's Daniel Ricciardo of Australia won the third spot in the royal box,while his teammate,the reigning World Champion Sebastian Vettel,retired with mechanical problems.
Showing posts with label Nifty Fifty. Show all posts
Showing posts with label Nifty Fifty. Show all posts
Monday, May 26, 2014
Monday, April 22, 2013
Asia This Day:Sunny Asian Markets;New Zealand Deals With Downpour
The Australian and New Zealand dollars rose Monday on the recovery of risk appetite.
New Zealand is expecting more heavy rainfall as residents assess the damage from a weekend deluge.At least 90 homes in the Tasman district experienced some flooding,and swells of up to four metres were noted at Astrolabe Reef in the Bay of Plenty.
There was also concern that a cargo of plastic beads was spreading over beaches after a shipping container aboard the shipwreck Rena was damaged by the storm.
India's Nifty Fifty index rose 0.55% Monday with most sectors showing strength,except for the IT sector that was dragging the market down a bit.Reliance was up 0.99% and Bharat Petroleum climbed 0.90%.
The MSCI Asia Pacific index rose 0.6% ,led by consumer and telecoms shares.Asian stocks were up generally Monday on Japanese exporters rallying because of the weak yen,as the G20 developed nations didn't object to Japan's policy stimulus.The G20 feel that the Bank of Japan's plan to buy seven trillion yen,or 70.02 billion dollars,of bonds per week will boost both the Japanese recovery and the global economy,according to Rajiv Biswas,chief economist for the Asia Pacific at IHS Global Insight.
The Nikkei 225 index rose 2.00%,while the ASX 200 gained 0.49%.Gold surged 1.78% to 1420.40 an ounce as hedge funds found it to be a bargain after last week's collapse.
New Zealand is expecting more heavy rainfall as residents assess the damage from a weekend deluge.At least 90 homes in the Tasman district experienced some flooding,and swells of up to four metres were noted at Astrolabe Reef in the Bay of Plenty.
There was also concern that a cargo of plastic beads was spreading over beaches after a shipping container aboard the shipwreck Rena was damaged by the storm.
India's Nifty Fifty index rose 0.55% Monday with most sectors showing strength,except for the IT sector that was dragging the market down a bit.Reliance was up 0.99% and Bharat Petroleum climbed 0.90%.
The MSCI Asia Pacific index rose 0.6% ,led by consumer and telecoms shares.Asian stocks were up generally Monday on Japanese exporters rallying because of the weak yen,as the G20 developed nations didn't object to Japan's policy stimulus.The G20 feel that the Bank of Japan's plan to buy seven trillion yen,or 70.02 billion dollars,of bonds per week will boost both the Japanese recovery and the global economy,according to Rajiv Biswas,chief economist for the Asia Pacific at IHS Global Insight.
The Nikkei 225 index rose 2.00%,while the ASX 200 gained 0.49%.Gold surged 1.78% to 1420.40 an ounce as hedge funds found it to be a bargain after last week's collapse.
Monday, March 25, 2013
Asia This Day:Markets Rally On Cyprus Deal;World Trade Challenges
A tentative resolution of the Cyprus problem has been agreed,and the prospect of a bailout for the tiny yet significant nation has sent Asian shares higher in early Monday trading.India's Nifty Fifty index was up 0.86%,and the Sensex index rose 0.82%.US stock index futures were also higher,along with oil futures,while gold futures fell,as did Treasury bond futures.
At a China development conference this weekend,World Trade Organisation Director General Pascal Lamy said the full globalisation of China's trade won't be without challenges.The new Chinese leadership under President Xi Jinping seems to be headed in the right direction on improving market access to China.I heard them saying we want to keep China opening its market,we want to keep internationalising the Chinese economy.
This will be challenging,however,as it faces resistance from domestic players who will not always welcome foreign competition.We want to grow our exports,but we also know we have to grow our imports.This obligates the domestic players to increase their quality and productivity.
Overall,this opening up has worked for China,but that doesn't mean it will happen in a painless way.What is painless is often inefficient,but what is efficient is sometimes painful.
The WTO's influence waned when the Doha Round of trade talks that began in 2001 floundered over the next 10 years.They failed to resolve a rift between developed and developing countries,but new WTO talks have begun.This time,instead of negotiating a big bundle of 20 topics,it is being done slice by slice,bit by bit.
The stumbling blocks in the old talks were US-China differences.No WTO Director General can push the US and China to agree on something if they don't agree,and this is what happened.
A very important negotiation is going on regarding customs standardisation,which would reduce the cost of cross-border trade.We have a problem moving the rule book forward so another layer of trade liberalisation happens,Mr.Lamy observed.
In other regional developments:
The HSBC flash China Purchasing Managers Index for March came in at 51.7,indicating a rebound in Chinese manufacturing.
Luxury retailer Tiffany saw a 13% increase in jewelry sales in the Asia Pacific region ex-Japan.
Goldman Sachs has raised its growth forecasts for the US and Japan.
Tiffany(TIF)
At a China development conference this weekend,World Trade Organisation Director General Pascal Lamy said the full globalisation of China's trade won't be without challenges.The new Chinese leadership under President Xi Jinping seems to be headed in the right direction on improving market access to China.I heard them saying we want to keep China opening its market,we want to keep internationalising the Chinese economy.
This will be challenging,however,as it faces resistance from domestic players who will not always welcome foreign competition.We want to grow our exports,but we also know we have to grow our imports.This obligates the domestic players to increase their quality and productivity.
Overall,this opening up has worked for China,but that doesn't mean it will happen in a painless way.What is painless is often inefficient,but what is efficient is sometimes painful.
The WTO's influence waned when the Doha Round of trade talks that began in 2001 floundered over the next 10 years.They failed to resolve a rift between developed and developing countries,but new WTO talks have begun.This time,instead of negotiating a big bundle of 20 topics,it is being done slice by slice,bit by bit.
The stumbling blocks in the old talks were US-China differences.No WTO Director General can push the US and China to agree on something if they don't agree,and this is what happened.
A very important negotiation is going on regarding customs standardisation,which would reduce the cost of cross-border trade.We have a problem moving the rule book forward so another layer of trade liberalisation happens,Mr.Lamy observed.
In other regional developments:
The HSBC flash China Purchasing Managers Index for March came in at 51.7,indicating a rebound in Chinese manufacturing.
Luxury retailer Tiffany saw a 13% increase in jewelry sales in the Asia Pacific region ex-Japan.
Goldman Sachs has raised its growth forecasts for the US and Japan.
Tiffany(TIF)
Monday, December 24, 2012
Asia This Day:Billabong Gets New Bid;Putin in India
Major central banks have been injecting liquidity into the market.We think we're gonna see major buying of the Australian dollar,driving it up to 1.11,said Todd Elmer of Citigroup.
Billabong International has received a takeover bid of A527 million dollars/US554 million from Sycamore Partners and Paul Naude.The Australian apparel group had cut its earnings forecast by up to 49% on weaker than expected holiday sales and restructuring costs.
Australian Minister of Trade Craig Emerson said the country's budget surplus should return by 2014.Although it would be unlikely,a surplus could possibly happen as early as 2013 if household spending continues to improve.There are good signs in car sales,the housing market and the retail industry.
The Labour government had originally promised to achieve a budget surplus in 2013,but has just revised the pledge to 2014,based on a shortfall in tax revenue because of global economic weakness,lower commodity prices and a higher Australian dollar.
The ASX 200 index closed at 4635.20,up 0.25% in shortened Christmas Eve trading.Australian stocks are at their highest valuation in 17 months,but trading volume was extremely light-off 70% in the pre-holiday session.
Russian President Vladimir Putin is on a one day trip to India.India is Russia's leading arms customer and Mr.Putin will sign 7 billion dollars in arms deals on his visit,including outright purchases and joint development plans.The Nifty Fifty stock index rose 0.48% in early Monday trading.
iShares Australia Index Fund(EWA),iShares Nifty 50 Index Fund(INDY)
Billabong International has received a takeover bid of A527 million dollars/US554 million from Sycamore Partners and Paul Naude.The Australian apparel group had cut its earnings forecast by up to 49% on weaker than expected holiday sales and restructuring costs.
Australian Minister of Trade Craig Emerson said the country's budget surplus should return by 2014.Although it would be unlikely,a surplus could possibly happen as early as 2013 if household spending continues to improve.There are good signs in car sales,the housing market and the retail industry.
The Labour government had originally promised to achieve a budget surplus in 2013,but has just revised the pledge to 2014,based on a shortfall in tax revenue because of global economic weakness,lower commodity prices and a higher Australian dollar.
The ASX 200 index closed at 4635.20,up 0.25% in shortened Christmas Eve trading.Australian stocks are at their highest valuation in 17 months,but trading volume was extremely light-off 70% in the pre-holiday session.
Russian President Vladimir Putin is on a one day trip to India.India is Russia's leading arms customer and Mr.Putin will sign 7 billion dollars in arms deals on his visit,including outright purchases and joint development plans.The Nifty Fifty stock index rose 0.48% in early Monday trading.
iShares Australia Index Fund(EWA),iShares Nifty 50 Index Fund(INDY)
Monday, November 5, 2012
Asia This Day:FoxConn Upgraded;India Has A Plan
FoxConn International has been upgraded to a buy from neutral at Ciitigroup on its iPhone work for Apple.The price target was raised to 5.80 a share.FoxConn International has reportedly begun making the iPhone's metal casing and is expected to gain new business from companies launching their own cell phone models in 2013.
FCI is a subsidiary of Taiwan's FoxConn Technology Group.Another subsidiary,Hon Hai Precision Industry,has been making iPhone casings for some time.
The Australian service sector index shrank for the ninth straight month in October.
Meanwhile,an Australian court has ruled that Standard and Poor's and ABN AMRO Group misled investors with deceptive debt ratings,and were negligent toward the investors.ABN had shoved the ratings through S and P.As a result of the ruling,local councils now have legal recourse to recover some of their lost funds.
India understands that 5.5% GDP growth is not enough,says Ajay Kapur,Head of Equity Strategy,Asia at Deutsche Bank.We like India.It's an economy that grows at night while the government is asleep,some wag said.All you need is a little bit of that policy shift,and I think we're beginning to see that.
India's Nifty Fifty and Sensex indexes were up about 0.10% in early Monday trading.Good earnings reports were expected from Tech Mahindra and Cipla,while Crompton Greaves reported profits that were below estimates.
Indian Prime Minister Manmohan Singh and his Congress Party have reached agreement on an overhaul plan for the economy.
FoxConn International Holdings Ltd(FXCNF)
FCI is a subsidiary of Taiwan's FoxConn Technology Group.Another subsidiary,Hon Hai Precision Industry,has been making iPhone casings for some time.
The Australian service sector index shrank for the ninth straight month in October.
Meanwhile,an Australian court has ruled that Standard and Poor's and ABN AMRO Group misled investors with deceptive debt ratings,and were negligent toward the investors.ABN had shoved the ratings through S and P.As a result of the ruling,local councils now have legal recourse to recover some of their lost funds.
India understands that 5.5% GDP growth is not enough,says Ajay Kapur,Head of Equity Strategy,Asia at Deutsche Bank.We like India.It's an economy that grows at night while the government is asleep,some wag said.All you need is a little bit of that policy shift,and I think we're beginning to see that.
India's Nifty Fifty and Sensex indexes were up about 0.10% in early Monday trading.Good earnings reports were expected from Tech Mahindra and Cipla,while Crompton Greaves reported profits that were below estimates.
Indian Prime Minister Manmohan Singh and his Congress Party have reached agreement on an overhaul plan for the economy.
FoxConn International Holdings Ltd(FXCNF)
Sunday, July 1, 2012
Asia This Day:Japan Restarts Nuclear Plant;Confidence Up
Despite loud protests,Japan has restarted its Fukui Prefecture Ohi nuclear power plant,saying the quality of life was being hurt by the recent switch to more expensive fossil fuels.The country had placed a moratorium on nuclear power a few months ago for safety checks in the wake of last year's meltdown at the Fukushima nuclear plant.
The Tankan survey of Japanese large companies showed a greater than expected increase in business confidence.Australian home prices rebounded the most in two years on rate cuts,while manufacturing contracted at a slower pace in June than in May.
The HSBC China Purchasing Managers Index fell to 48.2 in June from 48.4 in May.It has shown contraction for the past eight months.Manufacturing orders and export demand are down on the Euro-zone debt crisis.The Shanghai Composite Index was down 0.42% in early Monday trading on the news.
Hong Kong's stock market is closed today following the inauguration of the territory's new chief executive,C.Y. Leung,on Sunday morning.Chinese Premier Hu Jintao attended the ceremony.Tens of thousands of protesters marched through the streets,denouncing Mr.Leung,a former real estate executive,as a Beijing figurehead.A big fireworks display was nontheless held to celebrate the 15th anniversary of the handover of Hong Kong to China by the U.K.
India's Nifty Fifty stock futures index rose on optimism about a Euro-zone agreement on how to resolve the debt problem.
iShares MSCI Japan Index Fund(EWJ)
The Tankan survey of Japanese large companies showed a greater than expected increase in business confidence.Australian home prices rebounded the most in two years on rate cuts,while manufacturing contracted at a slower pace in June than in May.
The HSBC China Purchasing Managers Index fell to 48.2 in June from 48.4 in May.It has shown contraction for the past eight months.Manufacturing orders and export demand are down on the Euro-zone debt crisis.The Shanghai Composite Index was down 0.42% in early Monday trading on the news.
Hong Kong's stock market is closed today following the inauguration of the territory's new chief executive,C.Y. Leung,on Sunday morning.Chinese Premier Hu Jintao attended the ceremony.Tens of thousands of protesters marched through the streets,denouncing Mr.Leung,a former real estate executive,as a Beijing figurehead.A big fireworks display was nontheless held to celebrate the 15th anniversary of the handover of Hong Kong to China by the U.K.
India's Nifty Fifty stock futures index rose on optimism about a Euro-zone agreement on how to resolve the debt problem.
iShares MSCI Japan Index Fund(EWJ)
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