Asian stocks rose, with the benchmark index headed toward its biggest gain in almost three weeks, amid speculation China will do more to boost growth and after U.S. housing starts jumped to the highest in four years.
The Hang Seng China Enterprises Index (HSCEI) of Chinese companies listed in the city jumped 2.4 percent as the country’s swap market signaled a further reduction in the reserve ratio requirement for banks. BHP Billiton Ltd. (BHP), Australia’s biggest oil producer, increased 2.5 percent as crude prices exceeded $90 a barrel for the first time since May. Man Wah Holdings Ltd. (1999), a sofa maker which gets more than half of its sales from the U.S., climbed 4.9 percent in Hong Kong.
The MSCI Asia Pacific Index (MXAP) gained 1.4 percent to 117.40 as of 2:21 p.m. in Tokyo, headed for its steepest advance since June 29. More than three shares rose for each that fell. The Asian gauge dropped 10 percent from this year’s high on Feb. 29 through yesterday as U.S. and Chinese reports signaled the world’s two largest economies are slowing.
Services and Insurance Sectors Push DFM Index Higher
The DFM General Index inched up to reach at 2,323.34 points on Wednesday 22nd May 2013.The index spending most of the session in the green zone added 3.99 points or 0.17 percent.
Market Cap
Key Sectors Turn QE Index Green
The QE Index continued pacing its way higher throughout the day to close its trading in the green territory at 9,085.9 on Wednesday 22nd May 2013, achieving 0.54 percent or 48.95 points for the sessi
ADX Index Dips but Volume Improves
The ADX General Index spending most of the session below the break – even line closed in the red at 3,503.38 points on Wednesday 22nd May 2013. The index trimmed 6.26 points or 0.18 percent for the e
Bonds seen consolidating after recent rally; lack of OMO hurts
Government bonds fell for a second consecutive session on Wednesday, continuing to retreat from a recent rally as the Reserve Bank of India has yet to announce bond purchases that had been widely exp