Shares of smartphone companies have certainly reflected the imminent arrival of Apple’s (AAPL, quote) new iPhone 5. Apple is now the world’s most valuable publicly traded company, rising sharply in recent trading. For whatever reason, Nokia Corporation (NOK, quote) attempted to pre-empt the introduction of iPhone 5 by introducing its two new smartpones, the Lumia 820 and Lumia 920 last week.
Overnight Asian emerging markets followed Western counterparts lower, becoming more cautious ahead of the FOMC meeting and Germany’s high court bond-buying program ruling.
Overnight emerging markets came under pressure from the eurozone as rating agency Moody’s downgraded the European Union’s outlook.
Overnight emerging markets remained cautious, holding out hope for any clues that China or the U.S. will initiate additional easing. Markets last night were mostly in the red with emerging markets giant China and Hong Kong in the green.
Emerging markets in Asia opened for the first time since the U.S. economy reportedly added more jobs than expected and rallied at the open. Adding strength to markets were comments from China’s central bank indicating it will tactically adjust monetary policy as needed on any concerns of weakening economic data.