quarta-feira, 29 de outubro de 2008

Seoul stocks surge to lead Asia in early trading

The swap agreement between the Fed and other Central Banks seems to make much sense on South Korea than Brazil. Here we are evaluating the "no-movement" our Central Bank took today (they decided not to change the interest rate).

HONG KONG (MarketWatch) -- Seoul-listed shares surged early Thursday, leading Asian markets, on the U.S. Federal Reserve's half-point interest rate cut overnight and after a liquidity swap agreement between the Fed and the South Korean central bank. Beaten-down shipbuilders such as STX Shipbuilding Co. paced the across-the-board advance in Seoul, lifting the Kospi 5.7% to 1,024.42. In Tokyo, the Nikkei 225 Average advanced 1.8% to 8,357.90 and the broader Topix index added 1.4% to 842.19. Australia's S&P/ASX 200 rose 2.1% to 3,925.20 and New Zealand's NZX 50 index inched up 0.2% to 2,752.03.

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