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Alexkid

Asian stock markets rise after Dow rallies to top 10,000 on gains by financial stocks
(AP) 11:14:43 PM (ET), Wednesday, July 7, 2010 (TOKYO)
Asian markets rose Thursday as investors took heart from U.S. bank State Street's robust profit forecast and scooped up stocks battered down by days of selling.

Sentiment turned upbeat across Asia after the Dow Jones industrial average surged 274.66 points, or 2.8 percent, to 10,018.28 on Wednesday. The State Street profit forecast boosted financial stocks and relieved some of the worries about the upcoming quarterly earnings season.

Yet analysts cautioned that markets are likely to stay volatile as significant doubts remain about the durability of the global economic recovery. There are signs from Europe to Asia to the U.S. that growth is slowing and some fear a repeat of last year's recession.

Japan's benchmark Nikkei 225 stock index jumped 247.56 points, or 2.7 percent, to 9,527.21 and South Korea's Kospi added 1.2 percent, to 1,695.75. Australia's S&P/ASX 200 was up 1.9 percent at 4,333.70.

Elsewhere, Hong Kong's Hang Seng index climbed 1.5 percent to 20,144.40. Benchmarks in Singapore, Indonesia and Taiwan were also higher while China's Shanghai Composite Index dropped slightly.

The Dow finished above 10,000 for the first time since late June as investors had second thoughts about the heavy selling in the stock market during the last two weeks.

In currencies, the dollar rose to 88.38 yen from 87.76 yen in New York late Wednesday. The euro climbed to $1.2668 from $1.2633.

Benchmark crude for August delivery was up 73 cents to $74.80 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose $2.09 to settle at $74.07 on Wednesday.


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* I have to admit at this time being surprised.
Asia is a nice size market,very impressive.Hope this keeps going at a pace. *

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