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Foreign Markets

Stocks soared forward overnight in Asia where investors were encouraged by data showing Japanese machinery orders in March fell less than expected. Japan’s Nikkei 225 stock average gained 171.29 points, or 1.9 %, to 9,265.02, and Hong Kong’s Hang Seng added 249.01, or 1.5 %, to 16,790.70.

The economy of the 16 countries that use the euro shrank by a massive 2.5 % in the first quarter; far more than the consensus expectation of 2%. This is the 4th consecutive quarter the euro zone has seen a decline in GDP. Germany’s economy shrank 3.8 % as demand for its high value goods, such as cars and machinery diminished. Germany’s DAX was up 0.4 % at 4,755.11. French GDP declined by 1.2 %, however the CAC 40 rose 0.8 % at 3,182.35.

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Foreign Markets

Global markets rose again on Tuesday while traders await the results from the Federal Reserve’s “Stress Tests”. After being closed for a holiday, Britain played catch up as the FTSE rose 114.94 points, or 2.7 %, at 4,358.16, while Germany’s DAX rose 17.12 points, or 0.4 %, to 4,919.57. France’s CAC-40 was up 6.86 points, or 0.2 %, at 3,244.83. With a slew of national holidays, trading was subdued in the Far East. Hong Kong’s Hang Seng index gained 49.03 points, or 0.3 %, at 16,430.08, while mainland China’s benchmark Shanghai Composite Index advanced 0.3 % to a nine-month high close of 2,567.34

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Foreign Markets

Markets soared overnight in Asia as China continues to see positive economic data. After a report Friday showed manufacturing sentiment rose for the second straight month, GDP for the country is expected to climb 7% in the second quarter; a 8 basis point gain over the previous quarter. The Hang Seng index closed up 860.06 points, or 5.5 %, to 16,381.05. China’s Shanghai Composite Index rose 3.3 % to 2,559.91, while South Korea’s Kospi index climbed 2.1 % to 1,397.92 which was its highest finish of the year.

After being closed Friday, Germany and France resumed trading while British markets took the day off for a public holiday. Germany’s DAX was up 83.87 points, or 1.8 %, at 4,853.32, while France’s CAC-40 rose 38.18 points, or 1.2 %, to 3,198.03.

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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.

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Foreign Markets

World markets surged forward on Thursday following Wall Street’s gains. Investor’s breathed a sigh of relief with Fed remarks that the worst of the recession may be over. Overnight in Asia, Hong Kong’s Hang Seng rose 564.04 points, or 3.8 %, to 15,520.99. After being closed for a holiday, the Nikkei 225 stock average gained 334.49 points, or 3.9 %, to 8828.26.

In Europe, the FTSE 100 index of leading British shares was up 63.15 points, or 1.5 %, at 4,252.74 while Germany’s DAX rose 89.66 points, or 1.9 %, to 4,794.22. The CAC-40 in France was 47.76 points, or 1.5 %, higher at 3,164.70.

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