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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: Susan Hickman who wrote (7801)	6/10/1999 6:43:00 AM
From: 2MAR$	Read Replies (1) \| Respond to of 108040

Asian markets revel in Japan GDP, China rate cut By Regan Morris SINGAPORE, June 10 (Reuters) - Asian markets rallied on Thursday as investors cast Wall Street worries aside amid growing optimism over the Japanese economy, an interest rate cut in China, and domestic factors. Tokyo stocks spiked above the key 17,000-point level after reports -- later confirmed -- that Japan's gross domestic product (GDP) had grown by 1.9 percent in the first quarter, much more than recent market expectations. The benchmark Nikkei average closed up 2.89 percent or 480.12 points at 17,102.62. It was the first time the Nikkei finished above 17,000 since May 6. The yen jumped against the dollar on the GDP news. The surprisingly strong GDP gain confirmed the Japanese economy had stopped declining, said Japanese Economic Planning Agency (EPA) Vice Minister Takafusa Shioya in an 0630 GMT announcement.