Phew!!
Signs of a measure of calm returned to global stock markets on Friday, ending a tumultuous week. Asian stocks extended their region-wide rebound Friday, with Hong Kong shares leading the way with a 6.73 per cent jump, ending one of the most volatile weeks in the market’s history.
In Bangkok, the SET index surged 32.32 points up 4.3 per cent, marking the Bangkok bourse’s first substantial rebound since the US announced interest rates cuts to stimulate its economy. Japan’s Nikkei index soared more than 4 per cent, and the Topix 4.7 per cent. India’s Sensex and Nifty indices both added on more than 6 per cent. Stocks on the Singapore Exchange climbed 3.59 per cent. Stocks in Taiwan, rose nearly 3 per cent, fueled by a rally of technology shares and gains on Wall Street for two consecutive days. Philippine share prices rose 2.85 per cent, and Australian stocks charged ahead 5 per cent. What do you think? Bear market or correction?
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