Commodity Metals Insight 2-Jun-2009

Research report by 'Ventura Securities Ltd'
     
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Asian stocks rose after U.S. economic data added to signs the global recession is abating and General Motors Corp.’s bankruptcy raised optimism Asia’s automakers will gain market share.

Treasury Secretary Timothy Geithner said China, the biggest holder of U.S. Treasuries, has expressed confidence in the U.S. economy and the Obama administration’s actions to fight the recession. China held $768 billion of Treasuries at the end of the first quarter.

The ISM index rose to 42.8% in May from 40.1% in April. The rise was stronger than expected and the strongest since September. The consensus forecast of estimates collected was for the index to rise to 42.0%. Readings below 50 indicate contraction.
   
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