This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/6452829.stm
The article has changed 8 times. There is an RSS feed of changes available.
Version 1 | Version 2 |
---|---|
Asia markets rebound after slide | Asia markets rebound after slide |
(10 minutes later) | |
Asian stock markets have rebounded, following a global sell-off on Wednesday sparked by concerns about the US economy and mortgage industry. | Asian stock markets have rebounded, following a global sell-off on Wednesday sparked by concerns about the US economy and mortgage industry. |
Late closing gains on Wall Street and the falling value of the yen helped lift battered Asian stocks. | Late closing gains on Wall Street and the falling value of the yen helped lift battered Asian stocks. |
Japan's benchmark Nikkei index, which lost almost 3% on Wednesday, rose 1.1% to 16,860.39. | Japan's benchmark Nikkei index, which lost almost 3% on Wednesday, rose 1.1% to 16,860.39. |
China's main stock index - the Shanghai Composite - gained 1.2%, while Hong Kong's Hang Seng index rose 0.8%. | China's main stock index - the Shanghai Composite - gained 1.2%, while Hong Kong's Hang Seng index rose 0.8%. |
Leading European stock markets, which were also hit heavily by Wednesday's sell-off, were expected to open higher. | Leading European stock markets, which were also hit heavily by Wednesday's sell-off, were expected to open higher. |
Market turmoil | Market turmoil |
Until we get a resolution to the issues that we are seeing in the US sub-prime market, we are likely to see a lot of volatility Simon Doyle, Schroder Investment Management | |
"The Nikkei has recouped just half the losses it sustained yesterday," said Yasuo Yabe, director of sales at Tokyo's Meiwa Securities. | "The Nikkei has recouped just half the losses it sustained yesterday," said Yasuo Yabe, director of sales at Tokyo's Meiwa Securities. |
"Investors are pondering whether sub-prime mortgage problems will have a broader economic impact or not." | "Investors are pondering whether sub-prime mortgage problems will have a broader economic impact or not." |
Wednesday's round of selling was prompted by concerns over the US sub-prime mortgage market. | Wednesday's round of selling was prompted by concerns over the US sub-prime mortgage market. |
Sub-prime lenders, who target consumers with poor credit histories, have been hit by an increase in defaults and bad loans. | Sub-prime lenders, who target consumers with poor credit histories, have been hit by an increase in defaults and bad loans. |
Figures have shown that late mortgage payments and home repossessions in the US are at their highest level since records began. | Figures have shown that late mortgage payments and home repossessions in the US are at their highest level since records began. |
Overnight, the US Dow Jones index closed up 57.44 points, or 0.48%, at 12,133.40. The technology-laden Nasdaq closed up 0.9%, while the broader Standard & Poor's 500 index closed up 0.7%. | Overnight, the US Dow Jones index closed up 57.44 points, or 0.48%, at 12,133.40. The technology-laden Nasdaq closed up 0.9%, while the broader Standard & Poor's 500 index closed up 0.7%. |
However, analysts warned that the stock market turmoil which has swept across global exchanges over the past few weeks may not have fully run its course. | However, analysts warned that the stock market turmoil which has swept across global exchanges over the past few weeks may not have fully run its course. |
"Until we get a resolution to the issues that we are seeing in the US sub-prime market, and see what impact it is going to have on the global economy, we are likely to see a lot of volatility," said Simon Doyle, head of strategy at Schroder Investment Management in Australia. | "Until we get a resolution to the issues that we are seeing in the US sub-prime market, and see what impact it is going to have on the global economy, we are likely to see a lot of volatility," said Simon Doyle, head of strategy at Schroder Investment Management in Australia. |