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.
