Stocks are up in mid-day trading today as retail sales came in strong and EU showed some progress in handling the debt crisis. Apple is also holding up after the death of Steve Jobs.
Remarks by the German finance minister hurt investors' confidence Europe would soon solve its debt crisis, triggering a sell-off in Hong Kong and other global markets.
Optimism over a solution to the European debt crisis and stabilized A shares on the Mainland fueled another round of sharp increases in strong turnover in Hong Kong.
Q3 earnings take center stage. Wall Street now EXPECTS the U.S. to avoid recession and for Europe to solve its debt problems. There may be no room for surprises in this market.
Hong Kong gained as increased optimism that Europe will solve its debt crisis boosted Asian markets. However, turnover fell, reflecting a lack of momentum.
Know the detail of debt instruments like bonds and debentures, these are fixed income instruments which are taken by investors looking for regular, fixed income through payment of interest on the principal purchase.
The key domestic benchmarks trimmed some of their earlier gains but were still trading higher today tracking a strong rally in Asian stock markets which rose as speculation of a Spanish bailout and upbeat US data lifted sentiment, spurring demand for risky assets. Stocks rose after Germany signaled that it is open to the idea of Spain seeking funding from Europe's bailout funds, easing concerns over Europe's debt turmoil. Robust US corporate earnings and a rebound in US industrial production last month signaled a pickup in the world's largest economy, bolstering sentiment.
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Gold ended marginally lower but downside was limited as the Dollar softens on Thursday due to sluggish claims data. Silver prices rallied on Thursday. The International Monetary Fund trimmed its forecast for global economic growth this year, citing recent weakness in the United States. But the IMF said growth prospects for next year remain undimmed, despite Greece's debt crisis and recent volatility in Chinese financial markets.
The Euro strengthened after Greece proposed reforms similar to those demanded by creditors in return for a financial bailout, boosting the chances the nation will remain in the currency union and reviving risk appetite.
Financials were lower on a combination of investor mistrust and another wave of bad news concerning the debt crisis. Bank of America led the pack down early on lingering expenses from Fannie Mae and Freddie Mac.
After a long, frightening battle, on Monday U.S. politicians acted to take a catastrophic U.S. default off the table. And after weeks of growth stunted partly because of worries about that default, China stocks in Hong Kong are poised to rise.
China and Hong Kong stocks plunged along with other global markets on fears of a sagging U.S. economy and spreading European debt crisis. Turnover almost doubled from recent levels in the rush to get out of the market.
Hong Kong rebounded strongly from Tuesday's massive decline, following U.S. markets higher. Blue chips broke back above the 20,000 level at one point but fell back on profit-taking.
Any hopes of a recovery or relief rally in the market will have to wait as stocks plunged again after yesterday's push upward. Investors are once again submerged in uncertainty.
Stocks are up today as the market is hoping that the Federal Reserve will announce a new round of stimulus on Friday. Promising data from China and Germany also helped to boost sentiment.
With Europe's fate unresolved so far, the big question remains if the economy is heading for a slowdown or recession. The market has NOT discounted latter.