A plan by the IMF to raise $600 billion in new funds to help
tackle Europe's debt crisis helped boost Asian markets to a
two-month high. But countries including the United States are
warning that any increase in lending by the IMF should supplement
European countries' own efforts to resolve their debts.
Markets in Europe were up by mid-morning with the FTSE rising
0.11% and the DAX up 0.07%. There was strong demand for
medium-term French bonds at an auction today, raising nearly 8
billion euros ($10 billion). An auction of Spanish bonds likewise
raised 6.6 billion euros.
Japan's Nikkei closed up 1.04%. Camera and medical equipment
manufacturer Olympus will remain listed on the Tokyo Stock
Exchange but with a "security on alert" tag. Additionally, the
company will be slapped with a 10 million-yen fine for violations
related to its fraudulent bookkeeping. Shares of Olympus fell
In Indonesia, Moody's yesterday
in upgrading the country to investment grade status, which is
expected to attract significant foreign investment. The Jakarta
) was up 0.58%. In Singapore, shares (
) climbed 0.57%. Meanwhile, Chinese shares (
) appreciated 1.31%.
In Australia, stocks (
) dipped 0.05%. In December, Australia lost 29,300 jobs, with the
employment growth falling flat during 2011. The news may
encourage the central bank to cut interest rates further. Shares
of global miners BHP Billiton and Rio Tinto were up 0.92% and
Seoul's KOSPI (
) was up 1.19%. Shares of Samsung jumped a whopping 4.08%.
The Chinese yuan rose 0.08% against the dollar to 6.3162,
while the Japanese yen dipped 0.12% to 76.70 against the
In Europe, the British pound appreciated 0.08% to $1.5446. The
euro rose 0.28% to $1.2893.