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Asian, European bourses mixed; Nikkei jumps over 6%

This article was posted on Nov 4, 2008 and is filed under Market News

LONDON: Asian and European shares presented a mixed picture on Tuesday even as fears of a protracted credit turmoil seemed to ease with Australia becoming the latest nation to slash key interest rates. Moreover, American Presidential polls are believed to be restraining investors from taking big risk in markets for the time being. While Japanese, Indian and Hong Kong bourses closed in the green territory, their counterparts in China and Australia slipped into the red.

On the European front, all the three major indices — London Stock Exchange’s FTSE 100, Germany’s Dax and France’s Cac 40 jumped more than two per cent in mid trading hours.

Japanese benchmark Nikkei 225 today soared 6.27 per cent to 9,114.60 points. The nation’s bourse was closed for holiday on Monday.

Extending its gaining streak, India’s 30-share Sensex shot up nearly three per cent. Erasing the early morning losses, the key index went up by 2.84 per cent to 10,631.12 points.

In addition, Hong Kong’s Hang Seng and South Korea’s Kospi indices closed in the green territory, with Kospi jumping over two per cent.

Interestingly, the Reserve Bank of Australia’s move to slash the benchmark interest rate by 75 basis points to 5.25 per cent failed to boost market sentiments, as the nation’s market fell into the negative zone.

Australia’s S&P/ASX 200 Index and S&P/ASX 300 Index marginally declined to 4,215.10 points and 4,192.70 points, respectively.

Further, China’s Shanghai SE Composite IDX ended in the red

source: Economictimes

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