From India to Japan, stock markets give a thumbs up to Fed hike

From India to Japan, stock markets give a thumbs up to Fed hike

Dubai: Asian stock markets from India to Japan have shaken off concerns they may have had about , with all the major indexes in positive territory except for the Hang Seng. Even there, the dip is below 100 points. Investors on DFM and ADX should be thinking along the same lines as their Asian peers, factoring in the overnight rate hike and the next one in July. The UAE’s general indices closed positive yesterday, and the analyst consensus is that for now worries about entering a bear market have been discounted. On DFM, investors will size up the opening of subscriptions for the , which provided its price range early Thursday. Another heavily over-subscribed IPO is in the works, analysts say, and with Tecom still exercising the rights to expand the IPO size during this period. Tecom’s dividend yield suggests a 6-6.5 per cent. India’s benchmark index, the Sensex, is up over 300 points, cutting into the 1,400 point loss earlier this week. “As always, there’re options for value picks if NRI buyers are looking for something to hold long-term,” said K.V. Shamsudeen, Director at Burjeel Geojit Securities, based in Sharjah. “Those, according to me, would be shares of Ambuja