The second reading of the PMI (HSBC-Markit) and the similar index for services (both for China) supported markets in Asia. Naturally, the new record on Wall Street contributed, as did the good mood of the European markets, where the German Dax is preparing to challenge 10. The MSCI Asia Pacific regional index is climbing another 0,5%, and Tokyo posts +0,9% in the early afternoon, with the yen weakening to 102,4 against the dollar.
Stock prices are also rising in Hong Kong and India. In Mumbai, the Sensex index hit a record, supported by expectations for the next steps of the new Modi government, which won the largest majority in Congress since 1984. The Sensex, however, posts a p/e ratio of 15,2 , significantly higher than that of the MSCI Emerging Market Index, at 10,7.
The euro is stable, at 1,360 and gold continues to be weak, reaching 1243,6 $/ounce in the second part of the day. WTI oil is slightly down, at 102,5 $/b. Futures on London and Wall Street are slightly negative.
Read Bloomberg
