Asian stock markets were higher Monday after last week's sharp selloff tied to Dubai World's debt crisis.
Financial stocks were rebounding in Australia, Korea and Japan on hopes the extent of the impact of the Dubai crisis would be limited.
Japan's Nikkei 225 was up 2.0%, Australia's S&P/ASX 200 was up 2.3%, New Zealand's NZX-50 gained 1.2%, South Korea's Kospi Composite rose 2.0%. Dow Jones Industrial Average futures were 32 points higher in screen trade.
"After concerns earlier in the week over the risks of a Dubai debt default becoming a global systemic event, there appeared to be a little more comfort on Friday that this was a localized issue and international exposure was reasonable limited," said Philip Borkin, economist at ANZ bank in Wellington.
No comments:
Post a Comment