Bloomberg Report On An Upbeat Asian Market
October 26, 2009 4:40 AM
Bloomberg reported that equities in Asian Markets were up for the second day. This upwards movement was largely driven by rise in auto and consumer product company stock prices. Investors liked these stocks as Toyota Industries Corporation (TYO: 6201) reported better profits.
While Toyota Industries is a parts maker, stocks of car producers also saw an upsurge. As they bought shares, investors also considered the economic growth of South Korea. South Korean Economy grew fastest in the last 7 years. Korea’s central Bank announced that the GDP for the 3rd quarter grew 2.9% when compared to the second quarter.
In Tokyo, the MSCI Asia Pacific Index rose 0.4%. Bloomberg reports that for every three stocks that fell, four stocks rose. Nikkei 225 Stock Average rose 0.8%.
