Asian-Pacific Markets Rise On Wall Street's Rebound
March 31, 2011
Shares in Hong Kong, the Philippines, Australia and Singapore advanced as Wall Street's recovery overnight eased investors' fears of another U.S. interest-rate rise. Stocks in Tokyo fell because of arbitrage-related selling, while Malaysian issues rose as investors took profits. Indonesian shares advanced, though political worries persisted over embattled Indonesian Democratic Party leader Parks Lira. Taiwan shares gained on news the government intends to open the local economy to more foreign investment. Buying in large-capitalization blue chips boosted stocks in South Korea and Thailand. At the close of the Asian-Pacific business day Friday, the Dow Jones China 88 Index was up 2.43 to 99.35 after rising 2.14 Thursday. The Dow Jones Shanghai Index moved up 4.32 to 109.51 after advancing 1.42 a day earlier, and the Dow Jones Shenzhen Index put on 1.42 to 103.41 after gaining 4.95 in the previous session. In dollar terms, the Asian-Pacific sector of the Dow Jones World Stock Index fell 0.14 to 118.52 at 6 a.m. EDT Friday after adding 1.04 Thursday. The world index as a whole gained 0.18 to 136.91 after rising 1.42 a day earlier. Mining and full-line-insurance shares led the Dow Jones Global Industry Groups, while consumer-electronics and steel shares were among the laggers. Asian Stock Market Indexes Market Australia
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