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Asian markets mixed; Nikkei up 73pts (Business Standard 31th June 2008)Asian markets are exhibiting mixed trend today.The Hang Seng has shed 91 points at 23,563. The Nikkei has gained 73 points to 13,418.The Shanghai Composite index has moved up 29 points at 4,447. More
Wall St ends lower; ADRs drop (Business Standard 31th June 2008)The Wall Street ended in red despite a 50 basis points rate cut by the Federal Reserve. The Dow Jones industrial average slipped 37 points to 12,443. The Nasdaq was down nine points at 2,349.Indian ADRs also ended with a negative bias. More
US Fed cuts interest rate by 50 bps (Business Standard 31th June 2008)The US Federal Reserve has cut its benchmark interest rate by 50 basis points to 3% to prevent the US economy from sinking into a recession."Today's policy action, combined with those taken earlier, should help to promote moderate growth over time and to mitigate the risks to economic activity,'' the Federal Open Market Committee (FOMC) said in a statement after meeting on Wednesday in Washington. More
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