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Japan:
Second India-Japan strategic dialogue on economic issues
China:
India-Brazil-South Africa to cooperate in health sector
South Korea:
South Korea Gives US Beef The All Clear
India:
Indian government approves re-structured APDRP
Pakistan:
Restoration of Indo-Pak dialogue to push trade
Singapore:
India-Brazil-South Africa to cooperate in health sector
Thailand:
Fastest Growth for Thailand Economy in Six Quarters
Taiwan:
Taiwan Enjoy Expanded Trade Surplus
Indonesia:
Central Bank Chief Of Indonesia Detained
Malaysia:
Malaysia economy grows and banking liberalises
Seven Week Hike In Asian Stocks
by Rohan ParkerTechnology companies and banks led the way up in the stock market to a seven week high, which has been fueled by rumors that financial companies are going to soon break free of the current credit market crisis which will lead to much more stable economic growth.
Both Australia’s number one investment bank, Macquarie Group Ltd., and Kookmin Bank of South Korea have come back after Lehman Brothers Holdings Inc., and UBS AG announced that they had raised $19 billion to reestablish capital. Technology company Samsung Electronics Co. has reached an eight month high in the stocks this week.
Beat Lenherr, the Singapore based LGT Capital Management chief global strategist, has said that the markets are now on the road to recovery and that confidence will grow with increased global security. He even predicted some hope for the U.S.’s failing economy.
The day has been good for the Asia Pacific Index, the MSCI, too, as all ten industry groups rose the benchmark and the Index gained 3.5%, which is the largest increase since mid February.
The stock market has been rallying all over the Asia Pacific; In Japan, the Nikkei 225 Stock Average rose a comfortable 3.6% whilst the Hong Kong Hang Seng Index rose a dramatic 4.4%, which was the largest boost of all the Asian markets. Both region’s benchmarks all rose.
The U.S. stock market also saw an increase yesterday, which raised Standard & Poor’s 500 Index by 3.6%. This is the greatest rise in the second quarter for 70 years. Lehman shares in the U.S. saw their first increase for a week, whilst UBS in Zurich initiated a come back on the European market with speculation that banking institutions will bounce back from the drastic $232 billion which was lost earlier to the sub-prime mortgage collapse.
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