Global markets at a glance

Asian markets crept higher on Tuesday as Japanese stocks
rebounded and Chinese money rates eased, while the U.S.
dollar got a fillip from a report the Federal Reserve would
again trim its bond buying next week. The dollar broke the
early lethargy with a hop to 104.48 yen when the Wall
Street Journal reported the Fed is on track to trim its bond-
buying program for the second time in six weeks, paring
back by $10 billion to $65 billion a month.

Wall Street Update

A lackluster U.S. jobs report had not diminished the central
bank's confidence in the economy, wrote Fed watcher Jon
Hilsenrath. Investors suspect he has an inside line to policy
makers and put a lot of weight on his opinion. It was
enough to nudge 10-year U.S. Treasury yields up a couple
of basis points to 2.84 percent, following the U.S. Market
holiday on Monday. The drop in the yen helped Japan's
Nikkei .N225 bounce 1.1 percent, and dragged up markets
from South Korea to Taiwan. MSCI's broadest index of Asia
-Pacific shares outside Japan .MIAPJ0000PUS swung round
to be 0.36 percent firmer

MACRO NEWS

Yesterday the directed the Planning Commission to set
up a committee with representatives from northeastern
states to monitor and improve coordination for infrastructure development in the region as he reviewed its
status here.
the (textiles exports) target will be USD 60 billion, having seen the potential and concentrating on skill development in the country, focus on textile sector by the
government and also the necessity of the advanced nations to depend entirely on Asia, especially China and
India, Union Textiles Minister K S Rao
Public sector power producer NTPC yesterday said it
facing illegal mining at its Pakri Barwadih coal block in
and alleged the state is not providing law and order sup-
port, while asking the government to look into the issue.
Venture Capital firms invested about $805 million over
206 deals in India during 2013, registering a fall of about
18 per cent over the corresponding period a year ago,

STOCKS IN NEWS

Biocon introduces world's first biosimilar Trastuzumab that drug is used for breast cancer treatment
Banks will recast Rs 5,000-crore debt of Era Infra Engineering
Cabinet Committee on Economic Affairs is likely to
take up Hindustan Zinc residual stake sale today
Reliance Media Works board approves delisting

COMMODITY ROUNDUP

Gold steadied after touching its highest level in nearly six
weeks on Monday, still finding support from a lower dollar
and a dip in equities, which improved investor confidence in
the metal. Platinum prices rose to their highest level in
more than two months after the main trade union for South
African platinum miners said workers at the world's top
three producers would go out on strike this week. Spot gold
hit its highest level since mid-December at $1,259.46 an
ounce earlier and was trading up 0.1 percent at $1,254.70
by 1116 GMT. U.S. gold futures for February delivery were
up $2.80 at $1,254.60 an ounce. European shares edged
lower, retreating from 5-1/2 year highs, while the dollar fell
0.2 percent versus a basket of main currencies. Liquidity
was expected to be thin with U.S. markets closed on Monday for a holiday.

CURRENCY ROUNDUP

Indian rupee declined in the early trade on Monday. It has
opened lower by 11 paise at 61.67 per dollar as against Friday's closing value of 61.55. Agam Gupta of Standard Chartered feels dollar-rupee will open higher at around 61.70
level mainly reflecting dollar strength overnight. He expects
exporters to sell on upticks to 61.80 while the nationalised
bank demand will support the pair at 61.50. "The flows are
expected to be muted as US markets will remain shut today," he adds. Meanwhile, the US dollar started Monday
near a two-month high, having enjoyed a solid comeback
last week after a string of mostly upbeat data convinced
markets the Federal Reserve will continue its gradual withdrawal of stimulus.

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