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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (25654)	11/22/2002 1:02:30 AM
From: calgal	Respond to of 74559

Stocks Jump in Asia After Nasdaq Soars 2 hours, 51 minutes ago URL: story.news.yahoo.com By Richard Baum SINGAPORE (Reuters) - Shares rose for a third day running in Asia on Friday and the dollar held firm after strong Hewlett-Packard Co earnings catapulted U.S. technology stocks to five-month highs. AP Photo Slideshow: Stock Markets Related Quotes DJIA NASDAQ ^SPC 8845.15 1467.55 933.76 +222.14 +48.20 +19.61 delayed 20 mins - disclaimer Quote Data provided by Reuters Gains in tech shares lifted Tokyo's Nikkei 225 stock average by 1.32 percent to 8,782.59 at midday, just off a two-week high struck in the morning. Shares jumped across Asia, lifting benchmarks by 3.1 percent in Taiwan, 1.4 percent in South Korea (news - web sites), one percent in Hong Kong, 0.8 percent in Singapore and 0.6 percent in Australia "The Nasdaq cleared a ceiling of 1,420 with hectic trading activity yesterday. That could suggest that the market entered into a new stage (of an uptrend)," said Norihiro Fujito, senior investment strategist at Japan's Mitsubishi Securities. The technology-laced Nasdaq Composite Index soared 3.4 percent to 1,467.55, its highest close since June 19, after computer giant HP surprised Wall Street with an upbeat revenue forecast and government data pointed to a stronger economy. The Dow Jones Industrial Average shot up 2.6 percent to 8,845.15, putting it on track for a seventh straight week of gains. The rally propelled the dollar to a three-week high against the yen and a two-week best versus the euro in U.S. trade, but the dollar lost steam before New York closed and traded only slightly stronger in Asia. The dollar was trading around 122.76 yen versus 122.61 in late U.S. trade and a three-week high near 123 yen. Against the euro the dollar was steady around late U.S. levels of $1.0019 after falling below $1 in New York trade. Japanese government bonds (JGBs) gained as Japan's framework for an extra budget was seen having fresh debt issuance of around five trillion yen ($40.77 billion), or within expectations. The yield on the new benchmark 244th cash 10-year JGB was down two basis points at 1.035 percent, while the key five-year yield was down three basis points at 0.310 percent.