Indian indexes gain
Indian indexes were the best-performing ones in Asia today. The S&P BSE Sensex gained 0.4% to close at 39,592, while the NSE Nifty 50 gained 0.43% to close at 11,848. Out of the 30 stocks in Sensex, 19 gained and the remaining lost. With 1.64% gains, HDFC Bank (HDB) was one of the top gainers. ADRs of HDFC Bank were up 0.95% on NYSE at 6:02 AM ET. Infosys (INFY) was the biggest loser on BSE today with a 1.18% loss. Expect the ADRs of Infosys to be under pressure today. The market breadth of the 50 stocks in Nifty was better with 34 stocks gaining and 16 losing.
Yesterday, the iShares MSCI India ETF (INDA) gained 0.46%. The WisdomTree India Earnings Fund (EPI) gained 0.74%, while the iShares India 50 ETF (INDY), which tracks the Nifty 50, was up marginally. With Indian stocks ending in the green and the S&P 500 futures up, we expect the ETFs to continue in the green today.
Other Indexes and ETFs
The Taiwan Weighted Index was the biggest loser among key emerging Asian indexes with a 0.51% loss. The Taiwan Semiconductor Manufacturing Company (TSM) lost 1.68% on the Taipei Stock Exchange. However, the ADRs of the company were up 0.31% on the NYSE at 6:09 AM ET.
Indonesia’s Jakarta Composite Index fell 0.19%, while Thailand’s SET Composite was flat today.