Word: asianness
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After record losses last week, Asian stock markets clawed back ground Monday as investors responded positively to details of a bailout plan for U.S. and European banks...
...those are only short-term fixes. For export-oriented Asian economies, the specter of a protracted U.S. recession remains daunting. Tommy Lam, owner of a garment factory in Dongguan, a Chinese city near Hong Kong, says that he has already seen a reduction in demand. "We're not getting the repeat orders we're supposed to get," Lam says...
...week's battering that ended Friday with losses of 7% to nearly 9%. Most indices in Asia similarly rebounded, with Hong Kong's Hang Seng rising 6.77%, and Syndey's All Ordinaries up 5.14%. Though the region's showcase Nikkei index remained closed during Japan's public holiday, most Asian markets aside from Taiwan were all posting modest advances...
Markets in Asia and Europe reacted with hope - or at the very least with calm - to moves made on both sides of the Atlantic over the weekend to convince traders to suspend the Great Stock Dump-a-Thon that eviscerated indices for most of the previous week. After Asian markets progressed with modest gains Monday, trading in Europe opened with similar advances, with France's CAC 40 and London's FTSE surging nearly 6% after the morning's opening...
...about 22%. On Friday, the market swung wildly, dropping 500 points on three occasions, then vaulting into positive territory before coughing up its gains in the last half-hour of trading to finish the day down 128 at 8,451. The NASDAQ managed a small gain. But European and Asian markets were pummeled again...