Market Updates
Asian Markets Rise, Temasek Invests in Merrill
123jump.com Staff
21 Dec, 2007
New York City
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Asian markets closed higher after four days of sell-off and weak financial sector in the region. Infrastructure, metals, and energy sectors advanced in the region. Nikkei 225 index in Tokyo added 1.5% but lost 1.7% for the week. Sumitomo Metals and China Steel are in joint venture to build a steel plant in Vietnam. India and Indonesia were closed to observe local holiday. Singapore based sovereign fund Temasek is likely to invest $5 billion in Merrill Lynch.
In Tokyo Nikkei 225 Index higher 225.40 or 1.50% to close up at 15,257.00, in Hong Kong Hang Seng index closed up by 609.83 or 2.26% to 27,626.92, in Australia ASX 200 closed increased by 70.10 or 1.13% to close 6,247.00.
In South Korea Kospi Index increased 33.95 or 1.84% to close at 1,878.32, Thailand closed up 21.89 or 2.76% to 813.60, and Indonesia and India were closed for local holidays.
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