MARKET EYE-SGX Nifty gains; vote on FDI in upper house key

Thu Dec 6, 2012 8:31am IST

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Dec 6 (Reuters) - * Nifty futures on the Singapore Exchange
 up 0.22 percent. The MSCI-Asia Pacific index excluding
Japan also gains 0.13 percent.  
* Asian shares were steady near 16-month highs on Thursday,
supported by hopes that U.S. lawmakers will reach a compromise
to avoid the so-called fiscal cliff of year-end tax hikes and
spending cuts which threaten to push the U.S. economy back into
recession. 
* Foreign investors bought 8.78 billion rupees of stocks, while
domestic institutions sold stocks worth 6.39 billion rupees on
Wednesday, when the BSE index gained 0.23 percent.
* India's fragile ruling coalition won a vote on allowing
foreign supermarkets to operate in Asia's third-largest economy
on Wednesday, in a key test of support for Prime Minister
Manmohan Singh and his flagship economic reform. 
* On Friday, the upper house will vote on the same issue. There
the government has fewer seats and is likely to lose the
symbolic motion. 

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)
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