Skip navigation

Current DateTime: 10:25:08 27 Nov 2009
LinksList Documentid: 24355697
  • Runway Angels

      The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Show.

  • Smartphone Guide

      Here's a need-to-know guide to nine devices, based on features, price, network and platform.

  • Wines for the Holidays

      Not quite sure what wine to pair with Turkey or Creme Brulee? Our experts do.

FEATURED QUIZZES


Current DateTime: 10:25:08 27 Nov 2009
LinksList Documentid: 33793611
  • How Well Do You Know Your Bird?

      Let's talk turkey. Test your turkey knowledge and perhaps pick up a bit of trivia to trot out at your holiday meal.

  • A Healthier & Wealthier You

      Take the following quiz and find out how much you know about the impact of obesity on the health of the U.S. economy.

  • The Billionaire BFF's

      Philanthropists. Bridge partners. Hockey players. Which responses are based on facts from Buffett's and Gates' real lives?


Current DateTime: 10:25:08 27 Nov 2009
LinksList Documentid: 24890560
  • Winterizing Your Portfolio

      If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.

  • Investor's Guide to Real Estate

      Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.

  • Alternative Investing

      Stocks and bonds? Sure. But it's a big world out there for investors.

powered by digg
Asian Stocks Hit 2-Month High as Risk Returns
By: CNBC.com | 05 Jan 2009 | 05:05 AM ET
Text Size

Asian stocks hit a two-month high Monday, with investors betting the global economy will start to recover later this year by shedding some of their big holdings of safe-haven government bonds.

The Australian dollar [AUD-TN  Loading...      ()   ] pushed to a three-month high against the U.S. dollar as investors embraced higher-yielding currencies, taking heart from calmer financial markets and expectations for big government stimulus spending packages in coming weeks to revive growth. The dollar edged up across the board, mainly getting a boost as the euro [EUR-TN  Loading...      ()   ] stumbled. Traders said the single currency's surge in December was due more to factors such as investors repatriating funds before year-end and was likely overdone. Commodity prices generally firmed, with oil prices [US@CL.1  Loading...      ()   ] climbing above $47 a barrel on increased tensions in the Middle East, Russia and Ukraine.

Japan's Nikkei 225 Average [NIKKEI  Loading...      ()   ] began 2009 on a strong note, closing 2.1 percent higher in a shortened session and hitting a two-month high on hopes this year will be better than last, the worst in the Nikkei's history. Honda Motor and other exporters climbed on a weaker yen [JPY-TN  Loading...      ()   ]. Resource-linked firms such as trading houses surged as oil jumped more than 3 percent, after an Iranian military commander reportedly called on Islamic countries to cut oil exports to supporters of Israel over Israel's ground offensive in the Gaza Strip to stop Hamas rocket attacks.

Seoul shares gained 1.4 percent with banks including KB Financial rallying on expectations of a rate cut, while auto makers advanced on strengthening views their earnings may not be as bad as feared.

Australian stocks finished down 0.7 percent as banks gave up early gains, precious metal miners fell on lower gold prices and investors sold offshore earners likely to be hurt by a stronger Australian dollar.

More From CNBC.com

Hong Kong shares rose 3.5 percent, with China Mobile rising for a second day on hopes that Chinese telecom operators will soon be issued licences to offer third generation (3G) services. China's Lenovo Group climbed after the Chinese magazine Caijing said the world's No.4 personal computer maker was set to announce a major restructuring plan on Jan. 8 including changes of its top management. Aluminum Corp of China jumped 9.5 percent, tracking similar gains in its Shanghai listed scrip on hopes that it would benefit from the government's infrastructure building plans.

Singapore's Straits Times Index rose 5.2 percent. Shares of plantation firms such as Golden Agri and Wilmar International rose on higher palm oil prices. Benchmark palm oil prices in Malaysia rose 1.5 percent after crude oil climbed on worries over supplies after an Iranian military commander reportedly called for an oil boycott.

China's Shanghai Composite Index rose 3.3 percent, with industrial metal producers leading the gains on hopes they would benefit from the government's infrastructure building plans. Coal producers also outperformed, partly because of a surge in global oil prices due to tensions in the Middle East. Shenhua Energy gained.

© 2009 CNBC.com
Tools:
Print EmailAdd This share icon
  • digg share

CNBC HIGHLIGHTS

  • These four sectors will be the next to lead the market.
  • Zhu Zhu Pets are this year's must-have toy, fetching $40 or more on eBay.
  • T shirt man
  • From the why-didn’t-I-think-of-that file, we present Jason Sadler, a man whose job is wearing T-shirts.
  • It may be the most unusual guide to business you'll read.
  • Shopping for a gadget hound? The choices can be baffling. Here are a few that should be a hit.
  • "The Who" will be the halftime act for Super Bowl XLIV on Feb. 7 in Miami. Is the NFL behind the times?
ADD COMMENTS
Remaining characters


Current DateTime: 06:14:06 27 Nov 2009
LinksList Documentid: 29778428

Current DateTime: 09:11:31 27 Nov 2009
LinksList Documentid: 29779196

Current DateTime: 10:38:14 27 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 07:56:30 27 Nov 2009
LinksList Documentid: 29779198
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
A Division of NBC Universal
Thomson ReutersThomson Reuters