Bulls, Bulls Everywhere
DJ 12K, Hang Seng 18K, Sensex 13K, ………
Stock markets across the world are scaling new heights - from US to Europe to Asia. From Wall Street to Tokyo, from Frankfurt to Singapore, from Paris to Manila, from Zurich to Mumbai – there is a bull party going on at the bourses everywhere.
Dow Jones Industrial Average is near its all time high and closed above the 12000 milestone this week registering a weekly gain of 0.4 percent, despite concerns that profit growth has peaked. European stocks rose for fourth consecutive week, led by metals and commodities stocks, as metal prices gained and OPEC agreed to cut oil production.
Hong Kong's Hang Seng Index is at 6-year high and ended the week at 18,113.55 with a weekly gain of 0.7 percent riding on the euphoria generated by the ICBC IPO and strong growth in China Mobile subscriptions. Japan's Nikkei 225 Stock Average added 0.7 percent this week to close at 16,651.63 reflecting robust corporate earnings - marking the fourth consecutive week of gains. South Korea's Kospi added 1.2 percent this week, as the tensions from North Korea's nuclear test ease with diplomacy likely to take the centre-stage. Shares in Singapore and Indonesia are also at new all-time highs.
In India, the BSE Sensex, though generally showing signs of fatigue during the week as it approached the psychologically important 13000 level, ended up on Saturday at a special 75-minute trading session arranged to mark the festival of Diwali. The blue-chip 30-share index had closed at 12,928.18 on Oct. 16 and has been a little hesitant since then. The overall positive sentiment and expectations of strong corporate earnings in the coming weeks is likely to propel the markets beyond 13000.
DJ 12K, Hang Seng 18K, Sensex 13K, ………
Stock markets across the world are scaling new heights - from US to Europe to Asia. From Wall Street to Tokyo, from Frankfurt to Singapore, from Paris to Manila, from Zurich to Mumbai – there is a bull party going on at the bourses everywhere.
Dow Jones Industrial Average is near its all time high and closed above the 12000 milestone this week registering a weekly gain of 0.4 percent, despite concerns that profit growth has peaked. European stocks rose for fourth consecutive week, led by metals and commodities stocks, as metal prices gained and OPEC agreed to cut oil production.
Hong Kong's Hang Seng Index is at 6-year high and ended the week at 18,113.55 with a weekly gain of 0.7 percent riding on the euphoria generated by the ICBC IPO and strong growth in China Mobile subscriptions. Japan's Nikkei 225 Stock Average added 0.7 percent this week to close at 16,651.63 reflecting robust corporate earnings - marking the fourth consecutive week of gains. South Korea's Kospi added 1.2 percent this week, as the tensions from North Korea's nuclear test ease with diplomacy likely to take the centre-stage. Shares in Singapore and Indonesia are also at new all-time highs.
In India, the BSE Sensex, though generally showing signs of fatigue during the week as it approached the psychologically important 13000 level, ended up on Saturday at a special 75-minute trading session arranged to mark the festival of Diwali. The blue-chip 30-share index had closed at 12,928.18 on Oct. 16 and has been a little hesitant since then. The overall positive sentiment and expectations of strong corporate earnings in the coming weeks is likely to propel the markets beyond 13000.
Posts
No comments:
Post a Comment