Global Wrap: Asian Markets Jump At Start
LFB Forex
Published Dec 31, 0000 07:00PM ET
Updated Sep 16, 2009 11:09PM ET
Global Wrap:
Asian Markets Jump At Start
Current Futures: Dow +17.00, S&P +1.00, NASDAQ +1.25
Stock markets throughout Asia have been rising during the session. The Nikkei has jumped 120.55 points while the Australian S&P/ASX has risen 78.80 points or 1.69 percent. The Nikkei is quickly approaching the 52 week high, which was 12,263.95 and was achieved almost a year ago to the day before the index lost nearly half of its value. Early in the session, electronics manufacturer Sony Corp rose 2.63 percent and Kyocera Corp was increasing 1.77 percent.
The MSCI Asia Pacific index has gained 0.8 percent.
Manufacturing companies in Japan have become optimistic for the first time in nearly two years. The sentiment among increased to 15.5 points for the three months to September. This comes as the Bank of Japan is forecasted to keep their main lending rate at near zero while sustaining their efforts to strengthen the economy. Also released was the tertiary index which advanced 0.6 percent.
Overnight, the Japanese Nikkei added 120.55 points (1.17%) to 10,391.32. The Australian S&P/Asx advanced 78.80 points (1.69%) to 4,729.20
Crude oil for October delivery was recently trading at $72.45 per barrel, lower by $0.06.
Gold for October delivery was recently trading higher by $13.10 to $1019.40.
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Written By: LFB Forex
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