Asian Stock Markets Review at FinGad.com

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Categorie: IPO / Secondary Offering
Submitted 7 months ago by

Xpertwriter , CEO At E-HostingJunction.com at Spectrum Resumes , Inc

Asian stocks closed mixed on Thursday but China shone as the Shanghai market rocketed nearly 10 per cent after the government slashed stamp duty to shore up share prices. The Shanghai bourse closed up 9.29 per cent, its biggest one-day rise in more than six years, following the Chinese government�s decision to cut stamp duty on stock transactions from 0.3 per cent to 0.1 per cent. The move was announced late Wednesday when Chinese stocks were languishing around 46 per cent off an all-time high hit in October 2007. Investors took the decision as a sign the government wanted to support the stock market. The rally in mainland China boosted Hong Kong, where share prices rose more than 1.5 per cent. But some other major markets ended down, including Japan, Australia, Taiwan and Singapore. The crisis has led to a global credit crunch with the US expected to drag world growth lower as it slips into a recession this year. Global concern about inflation also persisted, with oil prices still within sight of record levels at around 120 dollars per barrel. TOKYO: Japanese share prices ended slightly weaker as investors turned cautious ahead of a volley of domestic corporate earning results, dealers said. The benchmark Nikkei-225 index fell 38.29 points or 0.28 per cent to close at 13,540.87. The broader Topix index of all first-section shares lost 6.82 points or 0.52 per cent to 1,307.57. D... More...

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#1 | Narasimhan @ 7 months ago Owner at Krish Systems User Rank : 1905 Portfoilo Balance: $498,940.00 Comment Rating: 0 Flag Comment Spam | Miscategorized | Prohibited: It is difficult to read a unified direction in the stock markets in the absence of global contagion like sub-prime. Good update.

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