On Wednesday, Asian stock markets met a 10th consecutive session of gains. But still the doubts about global recovery loiter over the growth prospects. The US federal Reserve meeting may ebb the same. The sideways moves in equities cap two weeks of stock market gains, turbo charged by Fridays data showing a completely unexpected rise in US employment last month. Gold and Japanese yen both showed green signals with supportive optimism.
MSCI is known to be the broadest index of the asian-pacific region outside Japan. It jumped 0.3%. At the same time, Nikkei, which is a Japanese index gained 0.1%. gold also increased a little in value. For 2 days Yen showed major gains. S&P futures yielded a gain. Stock indexes in Australia, Hong Kong and South Korea less than 0.3 % in growth.
German exports and imports in the month of April were the least recorded since 1990. It would not be wrong to say that Germany is facing it’s deepest recession since World war 2.China’s factory gate prices in the month of May also fell sharply.
Indian indices also gained in wednesday’s trade with HDFC and Reliance industries being the heavyweights. With 1.85% gain HDFC was the biggest gainer in the sensors followed by ONGC, Asian paints, tech Mahindra and Bharti Aguard while the rally of laggards was topped by TaTa steel which was down 1.46 % followed by Hero Moto, Infosys, Bajaj finance, ICICI Bank, Bajaj auto and PowerGrid. Nifty small cap mid 0.59 percent gain. Nifty itself was up 0.60 percent. Nifty metal slipped 37% where as Nifty Realty gained 1.2 8%.