World markets continue bounce with more gains

CNN
Wednesday, Oct 29, 2008

Most European markets opened higher Wednesday, adding to gains made earlier in the week.

London and Paris were up 5 to 7 percent in early trading, while Frankfurt slumped more than 7 percent, for a time, as shares of Volkswagen went into reverse.

Eight of 10 major Asian and Pacific stock markets closed higher Wednesday, a day after Wall Street posted its second largest single-day point gain ever.

Tokyo’s Nikkei average soared 7.7 percent, while Australia’s All Ordinaries index climbed a more modest 1.2 percent.

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Hong Kong’s Hang Seng index closed up about three-quarters of a percent, while in India, Mumbai’s BSE SENSEX was up about a quarter percent.

In Seoul, however, the KOSPI slipped 3 percent, giving up earlier gains. The Taiwan Weighted finished the day essentially even.

Singapore’s Straits Times index closed up a quarter percent.

Francis Lun, general manager at Fulbright Securities in Hong Kong, said he believed the Hang Seng hit bottom Monday, possibly signaling an end to the six-week run on the markets.

“I think investors have finally come to the conclusion that there has been panic selling for over a month and the market’s really oversold,” Lun told CNN. “They think the worst is over.”

Bargain hunters fueled Tuesday’s rally on Wall Street as investors snapped up stocks beaten down in value by recent selloffs.

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One Response to “World markets continue bounce with more gains”

Kshatriya Says:
October 29th, 2008 at 6:46 am
Game over man. Best hold on to your butts baby cuz its gonna get real interesting in the next 90 days. All this stock market talk is to keep us from seeing whats right in front of our face. Look around Mama, dont you see it? Pay attention to the billionaires and the 100-900 millionaires. Now what is the common denominator of all these megawealthy? What is Buffet doing? He built a Doomsday vault. What’s Cheney doing? He built a 6-story underground fortress for him and his family. How about the government in general? Google continuity of government. The concentration camps have been built. The guards are there NOW. People have been seeing 100s of thousands of coffins near railway depots. And now the top brass is telling us point blank that something is coming down in January. Something BIG. All you people who read this to make fun of the paranoid survivalists, better ask yourself: “what are the signs of the times?”. You still have a month or two to get your family prepared baby. Better go on over to survivalistseeds.com and get 12 years worth of food for pennies on the pound. Or maybe us tin-foil hat wearing wacko’s are all deluded. I hope so mama, I hope so.