Some Asian Markets Rebound
Advertisement
Text size: small | medium | large
AP
Published: November 21, 2008
BANGKOK, Thailand (AP) - Investors scooped up battered financial and technology shares, sparking a rebound that ended days of sharp
declines on Asian markets. Major regional benchmarks opened lower Friday after Wall Street touched multiyear lows overnight but surged into positive territory
by midday. Oil prices, which had fallen below $49 a barrel to three-year lows in early Asian trading, also edged higher to just over $50.
Still, with signs of recession spreading around the globe, the outlook remained grim. Indexes in Japan, Hong Kong and South Korea rose while mainland
China’s Shanghai Composite index slipped. Markets in the Philippines and Indonesia also declined. U.S. stock index futures were higher, suggesting Wall Street
would bounce back after a crushing two-day 10.6 percent plunge in the Dow Jones industrial average. It was the Dow’s worst two-day
percentage loss since October 1987.
Post a Comment
The commenting period has ended or commenting has been deactivated for this article.
Can't find what you're looking for? Try our quick search:
