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Asian markets close day in green, European markets too cheer on Monday morning

October 20th, 2008

Asian and European markets are trading positive on Monday with the almost all major Asian indices managed the day in green. The European markets that have just opened are showing the same level of enthusiasm.

Hang Seng topped the Asian charts with a jump by 768.80 points or 5.28%. Other top Asian indices of the day include Nikkei 225, All Ordinaries and Straits Times all of which closed their day up by at least 3%.

The up trend, according to analysts, is because of the return of the credit confidence in the markets. The Indian central bank, the Reserve Bank of India has slashed the repo rate so as to shield its economy. The South Korean Government says it is ready to do more after the bailout package so as to protect its own economy.

The MIBTel Index is up 322 points or 1.95%. AEX General. OSE All Share are both up over 4%. The FTSE 100 is up 1.96%

1 U.S. dollar = 48.5389 Indian Rupees
1 U.S. dollar = 101.9056 Japanese Yens
1 U.S. dollar = 0.7422 Euros
1 Ounce Gold = $792.90
1 Barrel Crude Oil = $73.61

Monday, October 20, 2008 6:05:24 PM IST

Entry Filed under: Global Markets