International Stock Markets Rise on Renewed US Auto Bailout Hopes

By: Associated Press Email
By: Associated Press Email
A man reads a newspaper headlined with two banners:

A man reads a newspaper headlined with two banners: "Japanese stocks may soon fall to the 7000-yen level" and "Yamato Life Insurance Co. went bankrupt" in Tokyo Friday, Oct. 10, 2008. Japanese shares nose-dived Friday as frantic investors dumped stocks following massive overnight losses on Wall Street and on growing fears of a global recession. The benchmark Nikkei 225 index closed down 881.06 points, or 9.62 percent, at 8,276.43 _ its second-biggest one-day loss since October 1987. (AP Photo/Katsumi Kasahara)

Hong Kong (AP) International stock markets rebounded today on renewed hopes of a bailout for troubled U.S. Automakers.

Investors also took heart over China announcing a multibillion dollar plan to spur consumer spending.

Analysts say it's another sign world markets may be stabilizing, at least in the short term, from their dizzying declines over the last three months.

The upward swing followed Wall Street, where stocks rallied from an early sell-off Friday as the Treasury Department said it was ready to assist Detroit's Big Three automakers after a $14 billion rescue plan died in the senate.

Asian Markets closed up and European exchanges opened higher.

Wall street futures rose moderately, suggesting a positive move at the open of U.S. markets.

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