AI
Thursday, May 01, 2008 9:33:36 PM
re: Asian Markets Jump on Wall Street's Rally
US market jumps like its on drugs which will be acting like "Tobias drop dead" effect with volatility.
Asian markets jump on US market.
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Asian Markets Jump on Wall Street's Rally
By CNBC.com
CNBC.com
| 01 May 2008 | 08:19 PM ET
Asian markets were sharply higher in the morning session Friday after a rebound in the U.S. dollar and falling oil prices eased inflation worries and triggered a rally on Wall Street.
Oil prices dropped to the $112 level and have fallen from record highs near $120 hit last month as demand in top consumer the United States sags under the weight of surging fuel prices and
wider economic problems.
The dollar's rise against the yen is boosted shares in exporters such as Honda Motors. However, resource firms such as Australia's Woodside Petroleum and Japan's Inpex Holdings are falling as the stronger dollar hit commodities such as oil, gold and copper as it dims their appeal as an alternative investment.
Tokyo's Nikkei 225 Average was up almost 2 percent, at its highest level in two months, with
Mizuho Financial Group and other banks surging after the
Wall Street rally prompted in part by growing investor confidence in the U.S. economy. Property developers such as Sumitomo Realty & Development also forged higher, while Toyota Motor and other exporters gained on a stronger dollar. Canon climbed after saying it would invest 60 billion yen ($575 million) to build a new toner cartridge plant in the United States.
Seoul shares jumped 1 percent led by manufacturers and transportation shares, after oil prices eased on Thursday calming fears about inflation. Chipmakers Samsung Electric and Hynix Semiconductor rose 3 percent initially tracking U.S. peers.
Australian shares rose as much as 2 percent, led up by banks after the rally on Wall Street boosted investor sentiment, though a drop in commodity prices dented resource firms such as Newcrest Mining.
Singapore's Straits Times Index climbed over 2 percent with financials such as DBS Group and United Overseas Bank leading the advance.
Chinese markets are closed for the Labour Day holidays. They will reopen Monday.
US market jumps like its on drugs which will be acting like "Tobias drop dead" effect with volatility.
Asian markets jump on US market.
~~~
Asian Markets Jump on Wall Street's Rally
By CNBC.com
CNBC.com
| 01 May 2008 | 08:19 PM ET
Asian markets were sharply higher in the morning session Friday after a rebound in the U.S. dollar and falling oil prices eased inflation worries and triggered a rally on Wall Street.
Oil prices dropped to the $112 level and have fallen from record highs near $120 hit last month as demand in top consumer the United States sags under the weight of surging fuel prices and
wider economic problems.
The dollar's rise against the yen is boosted shares in exporters such as Honda Motors. However, resource firms such as Australia's Woodside Petroleum and Japan's Inpex Holdings are falling as the stronger dollar hit commodities such as oil, gold and copper as it dims their appeal as an alternative investment.
Tokyo's Nikkei 225 Average was up almost 2 percent, at its highest level in two months, with
Mizuho Financial Group and other banks surging after the
Wall Street rally prompted in part by growing investor confidence in the U.S. economy. Property developers such as Sumitomo Realty & Development also forged higher, while Toyota Motor and other exporters gained on a stronger dollar. Canon climbed after saying it would invest 60 billion yen ($575 million) to build a new toner cartridge plant in the United States.
Seoul shares jumped 1 percent led by manufacturers and transportation shares, after oil prices eased on Thursday calming fears about inflation. Chipmakers Samsung Electric and Hynix Semiconductor rose 3 percent initially tracking U.S. peers.
Australian shares rose as much as 2 percent, led up by banks after the rally on Wall Street boosted investor sentiment, though a drop in commodity prices dented resource firms such as Newcrest Mining.
Singapore's Straits Times Index climbed over 2 percent with financials such as DBS Group and United Overseas Bank leading the advance.
Chinese markets are closed for the Labour Day holidays. They will reopen Monday.
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