The following is an excerpt from Satya Nagendra Padala | September 3, 2012 | ibtimes.com |
Asian stock markets mostly ended higher Monday on hopes that major central banks around the world would soon announce a new round of stimulus measures to tackle deteriorating global economic conditions.
Hong Kong’s Hang Seng gained 0.39 percent or 76.64 points to 19559.21, the Chinese Shanghai Composite advanced 0.57 percent or 11.63 points to 2059.15 and the South Korean KOSPI Composite rose 0.40 percent or 7.59 points to 1912.71 while the Japanese benchmark Nikkei declined 0.63 percent or 56.02 points to 8783.89 and India’s BSE Sensex was trading flat.
Market sentiment got a boost from U.S. Fed Chairman Ben Bernanke’s Friday speech at Jackson Hole, Wyo., which increased the odds of further accommodation, or QE3. Bernanke said the central bank would provide additional policy accommodation if necessary, although he stopped short of providing a clear signal of imminent action. Bernanke’s speech was interpreted by market participants as an indication of a stronger push for QE3 and offered some support to the markets.
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