Stock Markets

Nikkei plunges 3 per cent on sluggish economic data, earnings

Nikkei plunges 3 per cent on sluggish economic data, earningsTokyo  - Japan's benchmark Nikkei 225 Stock Average fell more than 3 per cent Friday due to sluggish economic data and corporate earnings reports by major Japanese companies.

The Nikkei index plunged 276.19 points, or 3.35 per cent, to 7,975.05, and the broader Topix index of all first section issues was also down 24.44 points, or 2.99 per cent, to
794.03.

Hong Kong shares start Year of Ox with 4.6-per-cent surge

Hong Kong shares start Year of Ox with 4.6-per-cent surge Hong Kong  - Hong Kong's Hang Seng Index began the Chinese Year of the Ox in bullish fashion Thursday with a 4.6-per-cent jump.

The blue-chip index shot up by more than 7 per cent at the opening of the first day of trading after the holiday before it fell back. It closed back above 13,000 at 13,154.43.

Turnover was a relatively low 39.1 billion Hong Kong dollars (5.04 billion US dollars.)

Sensex In Positive; JP Asso Gains Over 4%

Sensex In Positive; JP Asso Gains Over 4%After slipping into the negative terrain, the 30-share index Sensex soon came back into the positive.
 
India`s benchmark wholesale price index (WPI), inflation surged marginally for the second consecutive week because of growing prices of food items, jet fuel and alcohol.

It stood at 5.64% for the week ended Jan. 17, 2009, up 4 basis points as compared to 5.60% a week ago.

The Sensex continued to trade in a lusterless way amid volatility. Selling action was witnessed in power, oil & gas and consumer durables stocks.
 

9,350 Level Is Important To Sustain For Safe Trading Zone, Says Vishwas Agarwal

9,350 Level Is Important To Sustain For Safe Trading Zone, Says Vishwas Agarwal  Equities opened on a firm note on the major Indian bourses today, following positive global sentiment ahead of January F&O expiry series.

Realty and banking stocks were among the most prominent gainers during the early trade. Metal, auto, capital goods and IT stocks have also recorded sharp gains.

Buying remained stock specific in FMCG and pharma stocks, while power and oil stocks remained subdued.

Tokyo stocks up on weaker yen, Wall Street

Tokyo stocks up on weaker yen, Wall StreetTokyo  - Tokyo stocks ended Thursday morning trading up, following positive signals from Wall Street and the yen's weakening against the dollar.

The benchmark Nikkei 225 Stock Average was up 134.28 points, or 1.66 per cent, to 8,240.57 at mid-trading, while the broader Topix index of all first section issues also rose 12.51 points, or 1.56 per cent, to 816.84.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 90.27-37 yen, down from Tuesday's 5 pm quote of 89.15-18 yen.

US stocks rally on "bad bank" plan, Fed rates

US stocks rally on "bad bank" plan, Fed rates New York  - US stocks surged Wednesday as the Federal Reserve kept its key interest rate at a record low and on hopes for an economic stimulus package, as well as government plans for a "bad bank" to absorb toxic investments.

Citigroup Inc and Bank of America Corp surged more than 13 per cent after reports that President Barack Obama could announce the creation of a so-called "bad bank," which would take the troubled mortgage assets off the balance sheets of banks and place them in a new government-backed entity.

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