February 4th, 2011
Econintersect: Chinese all across Asia celebrated the second day of the New Year driving most Asian markets higher against headwinds of rising interest rates due to inflation and less-good market conditions.
But not all Asian markets advanced. After two-day upward movement in the Indian markets, the BSE benchmark Sensex dipped again today to 5-month low by losing 441 points to close at 18,008.15 as high inflation and rising interest rate fears gripped investors. Follow up:
Earlier this week, China's purchasing managers' index (PMI) fell to 52.9 in January from 53.9. BANK Indonesia, the central bank, today raised its interest rate by 25 basis points to 6. 75 percent according to Kompas.com.
source: Times of India