After a day of hopeless sell off on 30 September 2008 over at Wall Street. News has it that the new revised US rescue plan which was slammed by the house will be revive again going for a Senate vote.
Immediately after a stormy day, here comes a calm as investors snapped up stocks on bargain hunting sending Dow Jones Industrial Average, DJI up by 485.21 points or a hefty 4.68 percent. A very resonable gain after a day of hopeless panic selling triggered by the rejected US rescue plan by the house.
Asia Markets was impressed upon by the strong speculation that the 700 billion dollars will be hammered out by US Government in bid to save the stuttering US economy which affects the world economy. Singapore market, STI is closed due to holiday. Sensex, the index for India was seen impressively higher by 259.01 points or about 2 percent during the time of this post.
Over at the Hong Kong’s Hang Seng Index, HSI inclined by 135.53 points or just 0.76 percent. Asia markets were generally higher or in the green as the speculation grew on the revival of US rescue plan.
If let say, the plan failed to be hammered out, there will be no bailout, not only Asia markets, but markets all over the world will fall into a situation of panic selling just like a few days ago.
The following is of personal opinion and not at all an inducement to trade.
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