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Saturday 22nd of November 2008
June 11, 2007

Asian markets higher on session


by Elaine Frei
Asian markets higher on session

Equities markets in Asia and the Pacific saw gains on Monday. In India, the Sensex added 0.14 percent to 14,083.41. In Hong Kong, the Straits Times index was 0.52 percent higher to 20,615.49, while the Straits Times index in Singapore was up 1.34 percent to 3,545.46. The Australian markets were closed of the Queen’s Birthday. In Tokyo, the Nikkei 225 and the Topix index were each 0.3 percent higher, with the Nikkei closing at 17,834.48 and the Topix ending the session at 1,761.15.

Europe’s markets were higher as well. The FTSE Eurofirst 300 added 0.81 percent to 1,580.38. Among continental markets the IBEX was up 0.84 percent to 14,940.6 in Madrid, while the Paris CAC-40 gained 0.97 percent to 5,940.09 and the Xetra Dax in Frankfurt was 1.52 percent higher to 7,706.1. In London, the FTSE 100 gained 0.96 percent to 6,567.5, while the FTSE 250 added 0.45 percent to 11,635.5.

Wall Street was up slightly at midday, with the Dow Jones Industrial Average up 0.05 percent to 13,430.65, while the Nasdaq Composite gained 0.09 percent to 2,575.78 and the S&P 500 had added 0.18 percent to 1,510.44.

Crude oil and gasoline and heating oil futures were higher on the session, as were metals prices. Several circumstances, including new statements from OPEC that crude oil is not in short supply and new reports of problems in US refineries.

Among currencies, the New Zealand dollar dropped significantly after the Reserve Bank of New Zealand intervened in its advances by selling the currency after saying that it had risen too high. The US dollar, meanwhile, strengthened. Prices for US Treasury bonds were lower and yields were higher on indications that there are no interest rate cuts coming from the Federal Reserve in the foreseeable future.

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