Asian shares rose to their highest in nearly five months on
expectations of an imminent deal to reopen the US government and avert a
possible debt default, though the squabbling in Washington kept markets on edge
ahead of Thursday's deadline, reported Reuters.
Hong Kong's Hang Seng rose 0.70 percent or 161.41 points at
23,379.73 and Japan's Nikkei gained 0.37 percent or 53.60 points at 14,458.34.
South Korea's Seoul Composite added 0.90 percent or 18.14
points at 2,038.41 and Taiwan's Taiwan Weighted was up 0.80 percent or 66.46
points at 8,340.42.
China's Shanghai Composite was flat at 2,237.26. Singapore's
Straits Times shut today.
↨10 Important Points to Consider Today for Stock Market
earning ↨
- Wall Street closes near session highs on Friday, with the Dow rallying over 100 points as US president Barack Obama and house speaker John Boehner speak by phone to discuss the Republican offer to pass legislation to avert a default and end the 11-day government shutdown.
- And on the economic data front, consumer sentiment fell in October to 75.2, its weakest level in nine months.
- In Europe, shares closed higher on Friday amid signs that US lawmakers were moving closer to a deal to re-open the government and avoid a debt default.
- In the currency space, the dollar trades subdued as investors shift to safe haven currencies like the Yen and the Swiss Franc.
- In commodities, crude prices extend losses in early trading as the US government shutdown and looming Thursday’s debt ceiling deadline continued to fuel worries about falling demand in the world's largest oil consumer.
- From precious metals space, gold hovers near three-month lows after large fund trades in the previous session rattled investors.
- Back home, after a 2.6 percent rise in July, India's factories come to a screeching halt in August. Industrial output slows to a mere 0.6 percent.
- Inflation data for the month of September is expected today with both CPI and WPI likely to remain elevated.
- Reliance declares Q2 earnings post market hours today. GRMs are seen lower at $7.8/bbl versus $8.4/bbl (QoQ).
- From the banking space, expect a good set of numbers from Indus Ind Bank with a 32 percent growth in NII to Rs 675 crore from a year ago but watch for pressure sequentially. The bottom line is likely to expand 26 percent to over Rs 300 crore.
ACC, Hero Motorcorp, Tata Steel, Tata Motors, Tech Mahindra
