Economies: markets repair after weekend of frantic messages from governments
The world's major markets picked up on late Friday gains in the USA and good news from governments anxious to steady currencies and markets and moved sharply ahead yesterday. Signs in early trading are that today's results will be even better.
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Changes in major exchanges 13 October 2008
Country Closing Price as at 13 October Percentage changeUK 4256.9 8.26HONG KONG 16312.16 10.24NASDAQ 1844.25 11.81NYSE 6400.96 12.22CHINA 2073.57 3.65SINGAPORE 2076.35 6.57ASX 4141.9 5.138GERMANY 5062.45 11.40KOREA 1288.53 3.79JAPAN 8276.43 0.00MALAYSIA 950.76 1.79BOMB
|
UK Hong Kong NASDAQ NYSE CHINA SINGAPORE ASX GERMANY KOREA JAPAN MALAYSIA BOMBAY |
4256.9 16312.16 1844.25 6400.96 2073.57 2076.35 4141.9 5062.45 1288.53 8276.43 950.76 11309.09 |
8.26 10.24 11.81 12.22 3.65 6.57 5.138 11.40 3.79 0.00 1.79 7.42 |
In early trade this morning, Asia Pacific markets streaked ahead.
Morgan Stanley's performance on 13 October was a highlight of US trading as news that Mitsubishi Financial's offer to buy a substantial stake has not died with the stock market upheaval: Morgan's price went up by some 80% in one day. The Federal Reserve had approved the deal on 6th October, just days after it was made public on the 22nd September.
Markets were bouyed by EU governments pledging a UK style rescue package (at least, a package based on the announcement made last week, not the latest variation published after the UK markets closed yesterday) and the US Fed's announcement that it intends to take shareholdings in banks, after all.
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