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.
Overnight Asian emerging markets reacted strongly, and negatively to St. Louis Fed President James Bullard diminishing the need for the FOMC to begin a third round of quantitative easing (QE3) anytime in the near future.
Overnight emerging markets closed higher despite disappointing data from China, where the preliminary manufacturing survey hit a nine month low of 47.8 for August, compared to July’s print of 49.3.
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.
In overnight trading Asian equities moved higher on data from emerging markets behemoth China. China’s CPI slowed to 1.8% in July from June’s reading of 2.2%.
Overnight Asian and emerging markets continued the week’s move higher with the exception of Hong Kong and Singapore. Market participants remain cautious and hopeful ahead of China’s CPI results scheduled at 9:30 p.m. tonight EDT.
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.