India Morning Report: Three is a crowd..

Asia headlines caught up with more of the ennui in busy markets like India and Thailand/Turkey in the last few weeks with the Senkaku controversy headed for the UN and Abe taking over at the help of a Tsunami ridden Japan that is rapidly gaining growth momentum even as Sandy puts US economists belief on its head with recovery from construction drowning out any bad news in US which admittedly many economists expected but could not factor into their consensus expectations. 

China and Japan waking up could be good news for Banks and European investors who have been home to Asia in these two economies while HSBC and UBS paid out bigger and better fines and settlements for their transgressions to make a mark in such developed economies sticking on to globally minor portfolios again in India, Thailand, and even Aussie that thanks to its trade with China shares much the same fortune as the rest of Asia. The currency markets however are unlikely to spare the rod for the Dollar as they settle into new nooks instead of one of the worlds’ more liquid currencies. 

Meanwhile the India rupee barely hanging on to the 54 mark at 54.5, Ramesh Damani is as of now espousing the coming bull cycle to keep the current chain ( though he would like lower levels) moving at a bull market pace again in retail in 2-3 years while IDFC and ITC succumb to profit taking and the lesser mortals of the market unable to get cowered into a mark based on fundamentals stick to the alternate upmove in Ashok Leyland, DLF and more as Banks stay away from the correction mode after credit data released last week picked up more into the same 2006-07 territory of stable growth, no surprises while the IIP statistics keep showing up in tail with running inflation and a down and out manufacturing stream bolstered by October no Diwali wwork ethic this year in this week’s news.

 

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