Recall walking through the ubiquitous chain drug store near you to see the cologne shelves where the knock-off brands advertised “If you like Paco Rabanne, you’ll love ‘Paul Raven’ cologne.” Basically it smells the same but is a lot cheaper.
While many other Indian equities have a large, concentrated exposure to either the slowing developing countries or their own domestic economy (INDY, quote), Tata Motors (TTM, quote) offers investors access to the Indian economy without the problems plaguing other stocks thanks to its global diversification.
Emerging markets in Asia last night were under pressure after U.S. markets fell on weaker than expected manufacturing data. Commodity prices continue to move lower ahead of the European Central Bank meeting and Non-Farm Payroll report tomorrow and Friday respectively.
Overnight Asian emerging markets ended the day mixed as China’s state-run Xinhua news agency reported possible policy plans on the horizon to help foster consumption spending.
Overnight markets moved higher on the whole with the emerging markets of Singapore, South Korea, and Thailand marginally lower. Other emerging markets received a boost from Japan’s stronger equity market and weaker yen; the Nikkei closed the session at its highest level in more than three full months.
Asian emerging markets ended the day mixed even after Chinese Premier Wen Jiabao talked about the growing need for the People’s Bank of China to intervene. Hong Kong equities remained strong until late afternoon when the Hang Seng dropped and closed over 89 points to the downside.
In overnight trading developed and emerging markets moved higher on continued hope of central bank intervention. Emerging markets such as Hong Kong along with Japan rallied in the bottom half of trading on better than expected GDP growth from Germany.
Overnight emerging markets continued the rally started Monday on speculation the European Central Bank (ECB) could be getting ready to buy Spanish and Italian bonds to help reduce borrowing costs for the two debt-stricken countries.
Overnight Asian and emerging markets continued to climb higher on the hope key global central banks will initiate a new round of easing.