Hong Kong Hang Seng ^HSI 12:29AM 7380.82 +318.35 +4.51% Chart , News
Japan Nikkei 225 ^N225 12:36AM 14559.44 +189.81 +1.32% Chart
Still kicking @ss,,
Now European markets will go nuts ,,,
Does any one have satelite dish and can tune into CNBC Asia and Europe ,,they have Squawk Bix Asia and Squawk Box Europe ,, you get a lot of information premarket ,,
Asian markets sweep back up on Dow rebound
By Clarence Fernandez
SINGAPORE, Sept 2 (Reuters) - Asian markets spurted in early trade on Wednesday, energised by Wall Street's overnight rebound, with Hong Kong roaring back six percent.
Tokyo rose nearly one percent on the back of a stronger yen, and Australian shares climbed two percent.
Japan's benchmark Nikkei average ended the morning up 103.65 points or 0.72 percent at 14,473.28. Spurring the tonic effect was a stronger yen, which stood at 136.81/6.91 against the dollar shortly after 0230 GMT before slipping a bit but still off its lows.
Malaysian markets sprinted eleven percent to lead a Southeast Asian rally, and shares in Jakarta, Manila, Seoul and Taiwan surged between one and two percent each.
Australia's benchmark All-Ordinaries climbed 45.5 points or about 1.9 percent to 2,503.7.
''It is all U.S. driven this morning,'' said a Sydney-based dealer at an American investment bank.
''Frankly, I am a bit surprised that we are up this much. I thought yesterday's afternoon rally would have pre-empted much of it.''
Tokyo traders heaved a sigh of relief after New York posted its second-largest-ever point gain overnight, easing nerves frayed by a global equity rout.
''After several days of weakness, we've watched New York rise and the yen improve,'' said Yasuo Ueki, manager at Nikko Securities.
"This is a very auspicious change of environment."
Overnight, the Dow Jones Industrial Average closed up 288.36 points or 3.82 percent at 7,827.43.
In Hong Kong, the Hang Seng index rose 5.75 percent to 7,468.72 within minutes of opening, though it fell back to 4.78 percent higher at around 0330 GMT.
''The market is reacting to the U.S. market rebound, and those who sold short might be forced to buy in,'' said Sean Li, associate director at Amsteel Securities.
Traders said Hong Kong shares rose after the stock exchange announced the suspension of short-selling in the three largest-cap stocks.
Technical factors helped Malaysian shares shrug off tight new foreign exchange controls to bounce sharply, driven by support from local funds, dealers said.
The composite index was up 11.09 percent to 291.84.
''This looks like a technical rebound,'' said a local dealer. ''There has been some buying by local funds; it's quite a rare opportunity for them to come in like this.''
The new controls announced on Tuesday permit foreign investors to continue buying Malaysian shares, but require them to keep their the investments in the country for at least a year.
Jakarta stocks were up 3.59 percent.
''Regional gains and the rise on Wall Street helped the Jakarta composite index today, but poor first-half corporate results are seen weighing down the index,'' said Asiolan Sitorus, an analyst with PT Nikko Securities.
South Korea's main index was up 1.67 percent at 314.88 points.
Taiwan shares were 2.54 percent up at 6,495.79 points, driven by the U.S. rebound and President Lee's recent appeal for market confidence, dealers said.
Philippine shares swung up as local players rummaged through bargain stocks, driving the 30-stock co |
