Asian Markets Rise on Recovery Hopes
Markets in Asia made significant gains Monday, buoyed by a feeling that the global recession is waning as well as the positive comments Federal Reserve Chairman Ben Bernanke released on Friday. Japan’s main Nikkei 225 index rose 342.9 points, or 3.4%, to 10,581.1, while Hong Kong’s Hang Seng rose 1.9%. Markets in Thailand and South Korea advanced by 1.8%, in Taiwan and Australia by 2.8%, and in India by 2%. More
Yen Falls as Investors Seek Higher Yields
As optimism grows that economic conditions are on the mend, investors are selling yen in order to buy higher yielding currencies – particularly the euro and the Australian dollar.
Ã¢â‚¬Å“WeÃ¢â‚¬â„¢ll see a continuation of the risk rally, and thatÃ¢â‚¬â„¢s consistent with yen weakness,Ã¢â‚¬Â said Henrik Gullberg, a London- based currency strategist at Deutsche Bank AG. Ã¢â‚¬Å“The economic data has been sufficiently strong to persuade even the more bearish in the market.Ã¢â‚¬Â More
Roubini Says Chances of Double-Dip Recession “Increasing”
Nouriel Roubini, the New York University professor who predicted the financial crisis, said the chance of a double-dip recession is increasing because of risks related to ending global monetary and fiscal stimulus.
Ã¢â‚¬Å“There are risks associated with exit strategies from the massive monetary and fiscal easing,Ã¢â‚¬Â Roubini wrote. Ã¢â‚¬Å“Policy makers are damned if they do and damned if they donÃ¢â‚¬â„¢t.Ã¢â‚¬Â More
UK Factory Orders Rise in June
After two months of declining orders, factory orders for the Eurozone countries increased by 3.1 percent in June. More
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