World Markets rallied on US possible rescue plan
On 19 September 2008, world markets were seen rebounding dramatically to fresh heights after a weeks of drowning and relentless selling when the news came that US may be going to save its economy by helping financial companies which in term will saved the world economy.
This really impact markets all over the world as it can be easily seen on Asian Markets when Hang Seng Index, HSI rallied by more than 1695.27 points or 9.61 percent and Shanghai Composite Index, SSE soar by 9.46 percent. This really revived the confidence of investors around the world. Straits Times Index, STI, the market index for Singapore had also rallied substantially by 139.86 points or 5.78 percent. A very large gain considering the recent days and days of endless selling.
Over at London, FTSE was seen to performed extremely strongly on the news of potential rescue plan by US Government and also some positive sentiment of the agressive temporary ban on short-selling on financial stocks. FTSE 100 is now, during the time of this post, up by 393.20 or 8.06 percent. A remarkable 8 percent gain is very rare for FTSE 100.
The above are of personal opinion and not at all an inducement to trade.
Tags: FTSE 100 , London Market , NYSE , Wall Street , US Rescue Plan , World Markets Rally , Global Recovery , Economy Growth , STI , HSI
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