Wednesday, July 15, 2009

Asian Stocks Higher On Global Economic Optimism

. Wednesday, July 15, 2009

By stockOzone team

Nifty India stock futures traded in Singapore were up 1.25 percent, indicating a higher start in India. The Morgan Stanley index excluding Japan was up 1.5 percent. Japan's Nikkei was 2.2 percent higher, Hong Kong's key index was up 1.4 percent and Korea's key index rose 0.6 percent. Indian shares rallied 2.9 percent on Thursday, gaining for a second day, as upbeat results from U.S. firms Goldman Sachs and Intel helped shore up investor confidence worldwide.

The index of the dollar versus six majors was up 0.3 percent. * U.S. crude futures climbed above $61 a barrel on Thursday, extending gains from the previous day when prices were boosted by data showing crude supplies fell last week, a weaker dollar and rising equities.

One-month offshore non-deliverable forward rupee contracts traded in Singapore were quoted at 48.72/82 per dollar. The partially convertible rupee closed at 48.64/65 on Wednesday, 0.7 percent stronger than its Tuesday's close of 48.96/97. The rupee has regained strength after dropping to a low of 49.47 on Monday, its weakest since May 15.

Disclosure: Author does not own any of the stocks discussed here.

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