US ISM manufacturing index declined slightly to 61.2 in March from 61.4 in February, in line with the consensus forecast of 61.1. Nevertheless, the ISM manufacturing index remains at its highest level since 2004.
Australia's trade balance unexpectedly swung to a deficit in February for the first time in almost a year as disruptions from natural disasters cut mining shipments and higher fuel prices boosted imports. The shortfall was of AUD 205 mn from a revised AUD 1.43 bn surplus in January.
US Nonfarm Payrolls rose 216k in March to beat market consensus of 190k. Private payrolls rose 230k, which was also stronger than consensus forecasts of 206k. New Zealand business confidence slumped to a two-year low in the first quarter after an earthquake killed at least 170 people and forced companies to close in the nation’s second-largest city.
Federal Reserve Chairman Ben Bernanke Monday downplayed inflation fears which led some of colleagues to recently warn tighter monetary policy may be needed to keep prices in check.
At least two sons of Muammar Gaddafi are proposing a resolution to the Libyan conflict that would entail pushing their father aside to make way for a transition to a constitutional democracy under the direction of his son Seif al-Islam el-Gaddafi, a diplomat and a Libyan official briefed on the plan.
Yesterday Indian stock markets opened firm tracking cues from Asia. The indices remained strong with gains remaining broad based and Capital Goods and Technology stocks leading the way. The Sensex rose 1.5% to close at 19,702 and the Nifty gained 1.4% to close at 5,908. Overnight, most US stocks advanced sending the S&P 500 Index higher for a second day as optimism about takeovers outweighed a drop in technology shares following a report showing lower chip sales.
Today, Asian stocks dropped, with the regional benchmark index retreating from a 3-week high, after Tokyo Electric Power Co. began dumping radioactive water from its crippled nuclear plant and semiconductor stocks declined. The Indian equity benchmarks opened in the green but gains were soon erased at the time of writing with technology related stocks leading the decline.
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