Foreign Markets
Tokyo’s benchmark Nikkei 225 stock average brushed jumped 149.11 points, or 1.7 %, to 8,977.37, its highest close in nearly four months despite the fact that unemployment rose to 4.8 %, up from 4.4 % in February and the worst reading since August 2004. In Europe, Britain experienced some mild profit taking heading into the weekend as the FTSE was down 9.33 points, or 0.2 %, at 4,234.38. Germany’s DAX and the CAC-40 in France were closed for trading on Friday.
Foreign Markets
Stocks rallied for the first time this week on hope that China, whose massive population and expanding economy can spur demand for global growth. In Asia, Japan’s Nikkei 225 stock average was up 61.24 points, or 0.9 %, to 7,290.96, while Hong Kong’s Hang Seng added 297.27, or 2.5 %, to 12,331.15. South Korea’s Kospi climbed 3.3 % to 1,059.26. Stocks fell in Australia after an unexpected contraction in the nation’s economy, which shrank by 0.5%.
In Europe, the FTSE 100 index of leading British shares recovered from six-year lows to rise 66.42 points, or 1.9 %, to 3,578.51, while Germany’s DAX was up 99.38 points, or 2.7 %, at 3,790.10. The CAC-40 in France was 54.05 points, or 2.1 %, higher at 2,608.60.
