- Shares of auto companies are likely to be in focus today
- In commodity markets, the rate-cut buzz kept gold near 14-month highs at $1,346.62 per ounce
The Indian markets are expected to be in positive terrain on hopes of monetary policy easing by the US central bank. SGX Nifty suggests a positive opening as the index is up 44 points, or 0.38%, higher in early trade.
Asian share markets jumped on Wednesday as investors dared to hope the US Federal Reserve would follow the lead of the European Central Bank and open the door to future rate cuts at its policy meeting later in the day.
ECB President Mario Draghi’s shock turnaround on easing fueled talk of a worldwide wave of central bank stimulus, firing up stocks, bonds and commodities. Adding to the cheer was news US President Donald Trump would meet Chinese President Xi Jinping at the G20 summit later this month, and that trade talks would restart after a recent lull.
The MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.6% in early trade, adding to a 1% gain the day before. Japan’s Nikkei rose 1.5% and South Korean Kospi 1.1%.
Source: Livemint
