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Earliest available forecasts by a couple of international models
suggest ‘normal start’ to South-West monsoon for India this year.
The European Centre for Medium-Range Weather Forecasts (ECMWF) sees
normal to slightly above normal rainfall pattern across regions.
The European and US agency forecasts differed only in the
respective assessment of deviation from normal rainfall trend.
Central India (Maharashtra, Andhra Pradesh and parts of Karnataka)
is likely to witness above normal rain. The ECMWF forecast was updated as on
date while the comparable forecast from the US agency was dated last
month.
US agency considered here is International Research Institute (IRI)
for Climate and Society at Columbia University. The IRI said highest
probabilities point to ‘little deviation from the normal pattern of rainfall’
witnessed for India through the season.
Tokyo stocks opened sharply higher Monday, with the Nikkei Stock
Average jumping 178 points to start the day in the upper-11,500 range, the
highest level since Sept. 29, 2008.
The Nikkei reported before the bell that the government will likely
appoint Haruhiko Kuroda as the next governor of the Bank of Japan. Kuroda, who
now serves as the president of the Asian Development Bank, favors the
introduction of bold monetary easing steps. The report prompted investors to buy
stocks, while the yen depreciated.
Prime Minister Shinzo Abe and U.S. President Barack Obama met in
Washington Friday. They confirmed that Japan will participate in talks on the
Trans-Pacific Strategic Economic Partnership, which pushed up the benchmark
index.
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