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Markets & Finance

Tokyo Stocks Rally


Asia markets finished higher. The Nikkei rallied 367.48 points, or 3.44%, to 11,064.30, marking a three-month high, as the country's bad bank loan problems showed signs of healing. High-tech names and automakers led the gains. In Hong Kong, the market gained 69.60 points, or 0.61%, to 11,399.96.

Canada's benchmark TSE 300 experienced a choppy day and closed up 34 points to 7466.4. U.S. indices were also choppy but all closed on the plus side. The technical posture of the TSE 300 is strong hence the path of least resistance is to the upside. Of the 14 subindices, eight rose lead by Financials and Industrials. Golds and Oils fell.

European markets finished mixed as gains in tech and media companies were offset by losses in oil concerns. However, enthusiasm for a U.S. economic turnaround is coming from lower oil prices, signs of a speedy end to the Afghan war, and solid consumer spending in the U.S.

In London, the Financial Times-Stock Exchange 100 index reversed course, ending higher by 9.30 points, or 0.18%, to 5,302.50. In France, the CAC 40 finished down 9.44 points, or 0.21%, to 4,564.38. In Germany, the DAX Index shed 36.85 points, or 0.72%, to 5,114.12, after sliding earlier on a report that the German economy shrank 0.1% in the third quarter.


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