Asian stock markets close solidly higher

Osaka News.Net
Friday 21st November, 2008

Markets in Asia ignored losses on Wall Street overnight and posted solid gains Friday.

Analysts said the fear factor pervading U.S. markets was being overdone. The Dow Jones had closed down more than 400 points on both Wednesday and Thursday.

Some traders believe the markets have overshot and now offer good value. In South Korea the Seoul Composite jumped 5.80% Friday. Hong Kong's Hang Seng climbed 2.93%, while Tokyo's Nikkei 225 was up 2.70%.

The Singapore Straits Times was up 2.98% and India's BSE 30 jumped 5.49%.

In Australia the All Ordinaries closed 1.63% higher.

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