Powered by Truveo

Video

Search for video:
More Search Options
Asia stocks update
 Source: Mediascrape
A confidence boosting cash injection into troubled banks soothes investors MOREINFO: Expectations the U.S. Federal Reserve will cut rates this week also boosts confidence. SCRIPT: Asia stocks firmed on Tuesday with investors soothed by news of cash injections into banks hit by the unfolding subprime crisis. Investors also widely expect the U.S. Federal Reserve will cut interest rates by a quarter of a percent later in the day. Japan's benchmark Nikkei rose 0.8 percent (16,045) staying above the 16-thousand mark. Banks such as Hong Kong heavyweight HSBC were among the top regional performers. Exporters like Sony also traded higher as the dollar gained against the yen on recent signs the U.S. economy may avoid recession. Mainland China stocks were among the weakest. China reported consumer prices tapped 11-year highs in November. The data also showed troubling signs that price rises were spreading beyond food into the broader economy. Analysts expect markets to react to the U.S. Federal Reserves rate decision on Wednesday. Good news could help boost Asia stocks back toward record highs. Asia stocks excluding Japan have rallied nearly 39 percent so far this year China has been a top performer. Tara Joseph-Hui reporting for Reuters.
Rating: (0 ratings) Views: 25 Added: Dec 11, 2007
Category: Business
Email This

About  Advertise  Contact  Privacy Policy  Terms
© 2008 Find Internet TV. All rights reserved.
All brand, company, and product names are trademarks or registered trademarks of their respective owners.