Asian markets started the week in a positive territory by recovering some of the losses made last week. Investors are more optimistic that Fed will remain committed to their bond purchase program in their meeting later this week. The Nikkei 225 was the best performing index during the session, closing with a gain of 2.94%. However, the index is still down nearly 13.91% so far this month. The Hang Seng index was the second best performer, closing with a gain of 1.22%. But it was the Shanghai index which stayed under water and closed with a minor loss of 0.28%.
Shares of Japan Tobacco Inc. and drug maker Eisai Co. gained nearly 5% and 6% respectively. Bridgestone Corp also gained on the strengthening dollar, and shares were up nearly 4.7%. Property developers were also among winners in Hong Kong. Shares of China Overseas Land and investment Ltd gained 1.9%, and Cheung Kong Holdings Ltd shares were also trading up by nearly 3.7%.
European markets are also trading up early on in the session. The DAX is the best performing index, and is up by nearly 1.17%. The IBEX 35, FTSE 100 and CAC 40 are all trading higher with a gain of 0.68%, 0.58% and 1.20% respectively.
Deutsche Bank upgraded the electronics firm Royal Philip NV from hold to buy. Shares are trading up nearly 2.5%. Shares of Saipem SpA tanked 22% after the company revised its guidance down for 2013.
DISCLOSURE & DISCLAIMER:
The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader.
by Naeem Aslam
Shares of Japan Tobacco Inc. and drug maker Eisai Co. gained nearly 5% and 6% respectively. Bridgestone Corp also gained on the strengthening dollar, and shares were up nearly 4.7%. Property developers were also among winners in Hong Kong. Shares of China Overseas Land and investment Ltd gained 1.9%, and Cheung Kong Holdings Ltd shares were also trading up by nearly 3.7%.
European markets are also trading up early on in the session. The DAX is the best performing index, and is up by nearly 1.17%. The IBEX 35, FTSE 100 and CAC 40 are all trading higher with a gain of 0.68%, 0.58% and 1.20% respectively.
Deutsche Bank upgraded the electronics firm Royal Philip NV from hold to buy. Shares are trading up nearly 2.5%. Shares of Saipem SpA tanked 22% after the company revised its guidance down for 2013.
DISCLOSURE & DISCLAIMER:
The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader.
by Naeem Aslam