Asian stock markets heads towards rebound; US Markets close positive
Sans the Nikkei, most other Asian markets are taking a positive breath on Friday morning. The US Markets earlier closed positive with all three major indices closing over 2%
The Taiwan Weighted is trading up by 3.1%. The Jakarta Composite is up 5.81%. Seoul Composite, Straits Times and the NZSE 50 are positive. Nikkei 225 however is down 2.33% followed by Hang Seng and Shanghai Composite and All Ordinaries which are trading in the red. Taiwan’s move to cuts interest rates and joins the other global economies has boosted the sentiments in the market there.
Earlier Thursday, the US Markets saw a positive movement after starting in the green. The Dow last traded at 9,180.69 gaining 189.73 points or 2.11%. The S&P 500 is at 954.09 up by 24.00 or 2.58%. The Tech savvy Nasdaq is at 1,698.52 up 41.31 points or 2.49%.
The US Fed has added $21 Billion to loans for AIG. Oil company stocks Exxon, Shell and Marathon traded in the green after good profit numbers by the sector. All major sectoral indices of the US markets closed in the green lead by Basic Materials, Energy and Transportation.
1 U.S. Dollar = 49.0003 Indian Rupees
1 U.S. Dollar = 0.7776 Euros
1 U.S. Dollar = 0.7776 GBP
1 Ounce Gold = $734.50
1 Barrel Crude Oil = $64.55
Friday, October 31, 2008 9:25:50 AM IST
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