Asia takes a largely positive day, global stocks back on rise
Asian stock markets have taken a positive Tuesday with the BSE ticking up 4.5%. The European markets too have come up positive in the early trades of Tuesday.
The Bombay Stock Exchange that closed up 460.30 points or 4.50% is the stellar performer in the region. It is followed by the All Ordinaries and Nikkei 225, both of which are up over 3.4%. The Shanghai Composite, Hang Seng, Straits Times and Seoul Composite close marginally in the red.
South Korean Government continued its intervention to save its economy. The $4 billion package for the construction industry is the new announcement today. The Japanese Government too is doing its part with an announcement that the bank bailout scheme will also be including top Japanese banks.
The DAX and Madrid General are the two major indices in the European zone that are trading in the red at the moment. The ATX is up 2.88% followed by CAC 40, OSE All Share and the Stockholm General which are all up over 1% each.
The last three trading sessions have showed that the global stock markets have ended in the green, an indication that the time for cheer is around. The Japanese stock markets have contributed about 3.3% for the global stocks uprise. The Dollar has hit a 1 1/2 high and with this, most of the global currencies have been hit.
1 U.S. dollar = 48.7995 Indian Rupees
1 U.S. dollar = 101.2350 Japanese Yens
1 U.S. dollar = 0.7553 Euros
1 Ounce Gold = $776.40
1 Barrel Crude Oil = $72.80
Tuesday, October 21, 2008 5:26:04 PM IST
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