On Wednesday, stock markets in Asia were mixed. In India, indices recovered from Tuesday’s down day, with the Nifty 50 index up 0.7 percent and the BSE Sensex up 0.7 percent. However, the market reacted to the surprise result of the country’s general elections where Prime Minister Narendra Modi led by the BJP was the largest party but with a worse result than predicted.
In China, the Caixin purchasing managers’ index rose to 54 points in May from 52.5 points in April, while mainland China’s CSI 300 index was down 0.2 percent and Hong Kong’s Hang Seng index was up 0.5 percent. Meanwhile, in Japan, real wages fell by 0.7 in April, marking the 25th month in a row that real wages have fallen, with the Topix index down 1.5 percent and the NIKKEI index down 1.1 percent.
South Korea’s Kospi was up 0.9 percent on Wednesday, while the Shanghai stock exchange was down 0.3 percent. Futures anticipate a cautious upward opening for Europe and the United States on Wednesday evening local time as economic figures such as final readings of purchasing managers’ indices for service sectors from May are published in both regions during this period of time also other economic data such as private sector jobs and ISM index for service sectors will be released too
