Most Asian Markets Extend Near Year’s Rally

By: Associated Press Email
By: Associated Press Email

Hong Kong (AP) European markets were lower in early trading but Asian stocks extended their new year’s rally on hopes that U.S. stimulus measures will help speed the world’s economic recovery.

The yen continued to lose ground against the dollar, buoying shares in exporters.

Most recently, buying sentiment has been supported by President-elect Barack Obama’s proposals to revive the world’s largest economy.

But one analyst says that with company earnings expected to be dire in the next several months, the “Obama effect” could be short-lived.

Most major Asian benchmarks were up Wednesday. Casting a shadow on the region, markets in India and Hong Kong fell sharply. In India, the Chairman of heavyweight tech firm Satyam Computer Services quit after admitting the company’s profits had been inflated for several years. Shanghai’s market dipped slightly.

U.S. futures eased modestly, pointing to a soft open on Wall Street.


You must be logged in to post comments.

Username:
Password (case sensitive):
Remember Me:
KKCO NBC 11 News
2531 Blichmann Avenue
Grand Junction, CO 81505

Station Phone: 970.243.1111
Business Fax: 970.243.1770
Newsroom Fax: 970.245.3793
News Tip & Contest Line: 970.255.8477
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 37211469 - nbc11news.com/a?a=37211469
Gray Television, Inc.