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Foreign Markets

Stocks were mixed overnight in Asia after Wall Street’s rebound. Japan’s Nikkei 225 stock average rose 15.97 points, or 0.2 %, to 8,727.30, while South Korea’s Kospi added 1.4 % to 1,356.02.Chinese indices fell as The International Monetary Fund said U.S. financial firms could suffer $2.7 trillion in losses through 2010, a figure nearly double its projection just six months ago ; while the worldwide total could surpass $4 trillion. Hong Kong’s Hang Seng lost 407.44 points, or 2.7 %, to 14,878.45, while Shanghai’s benchmark fell 74.48 points, or 2.9 %, to 2,461.35. In Europe, equities edged slightly higher. Britain’s FTSE 100 was up 0.3 % to 4,000.19, Germany’s DAX added 0.5 % to 4,525.27, and France’s CAC 40 rose 0.6 % to 2,990.15.

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Foreign Markets

Most markets in Asia were closed to start the year, however Hong Kong’s Hang Seng Index jumped 655.33 points, or 4.6%, to 15,042.81. In Europe, 2009 started green as well, with the FTSE 100 index of leading British shares was up 39.70 points, or 0.9%, at 4,473.87, while Germany’s DAX was 68.80, or 1.4%, higher at 4,878.00. France’s CAC-40 rose 41.90 points, or 1.3%, to 3,259.87.

Volume remains extremely light as investor’s pessimism about the economy still stands.

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