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Indian Indexes Fell, Indonesia Was the Best Performer

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Modi to take oath on May 30

After last week’s massive election victory, India’s Prime Minister Narendra Modi and his council of ministers are scheduled to take an oath and join the office on May 30. Some of the ministers in Modi’s term, including Finance Minister Arun Jaitley, might not hold an office this time due to health reasons.

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Indian indexes fell

Both of the key Indian indexes, the NIFTY 50 and the BSE Sensex fell on May 29. The NIFTY 50 fell 0.57% and ended at 11,861.10. The BSE Sensex fell 0.62% and ended at 39,502.05. So far, both of the indexes have given above 9% returns this year. They’re two of the best performing Asian indexes in 2019. The SGX Nifty, a Singaporean index tracking the NIFTY 50, fell 0.54% on May 29.

India-focused ETFs

The WisdomTree India Earnings Fund (EPI), which invests in Indian equities, gained 0.84% on May 28 even though Indian indexes fell marginally. The iShares India 50 ETF (INDY) gained 0.62% on May 28, while the iShares MSCI India ETF (INDA) rose 0.45%.

Other indexes and ETFs

Indonesia’s Jakarta Composite Index was the best performing index on May 29. The index gained 1.2% and ended at 6,104.11. The iShares MSCI Indonesia ETF (EIDO) gained 0.59% on May 28. EIDO might be in the green on May 29. Thailand’s SET Composite Index fell 0.78% on May 29.

European markets were trading lower at 6:48 AM EST on May 29. The futures on US indexes were also trading lower.

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