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« A Thanksgiving Gift Idea! | Main | China: Continued Boom or Bursting Bubble? »
Wednesday
Oct122011

Asian stocks up as Europe announces new debt steps

 

 A Fund this big!

BANGKOK (AP) — Investors waded into Asian stocks Thursday, heartened by new efforts by European leaders to strengthen their continent's banks and deal with Greece's massive debts.

Japan's Nikkei 225 index gained 1.2 percent to 8,839.13 and Hong Kong's Hang Seng index was 1.3 percent higher at 18,563.34. South Korea's Kospi index rose 1 percent to 1,828.67. Australia's S&P/ASX 200 rose 0.7 percent to 4,232.30.

Benchmarks in Taiwan, Malaysia and the Philippines also rose, while those in Singapore, Shanghai and New Zealand fell.

On Wednesday, European Commission President Jose Manuel Barroso called for European banks to raise billions in new capital and for a stricter accounting of their exposure to sovereign debt. Barroso also called for a permanent bailout fund to come into force by mid-2012, one year ahead of schedule.

Barroso's proposals for helping Europe's struggling banks fueled investor appetite for riskier assets like stocks, analysts said.

"Risk appetite improved, bank stocks rallied ... after EC President Jose Barroso pledged for urgent recapitalizing of European banks," Credit Agricole CIB said in a research note.

Investors also shrugged off Slovakia's rejection Tuesday of a measure to strengthen Europe's bailout fund, focusing hopes that a solution would be found before a summit of EU leaders next week.

In the U.S., meanwhile, companies have begun to release their third-quarter earnings reports, and so far the results have been mixed.

The results "will be crucial" to determining the direction of stock markets over the coming days, Credit Agricole said.

 


However, for some enlightenment we turn to Nigel Farage with this explanation entitled: Barroso in the bunker planning world domination, please click here.

[Just a quick note to say that we have almost completed the transfer our web sites and now have them ensconced in Squarespace.

If you are not receiving our newsletters then please let us know and we will re-enter your names from this end. However, we are given to understand that the sign up box is working as it should, so that's one we can tick off.

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Thanks once again for your patience while we battle with the vagaries of cyberspace and the associated techno babble!

Bob K

Regarding www.skoptionstrading.com. We currently have a number of open trades at the moment however, we do not update the charts until the trade is closed and the cash is back in our account. 

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