Asian markets and oil prices are rising over the positive statistics of the US and agreements with Western financial institutions, RIA Novosti reports.
Asian-Pacific stock markets show a growth of 1.7-5.8%, the highest rate was at the Hang Seng market of Hong Kong (5.77%) to 19026.45 points and SSE Composite in Shanghai (3.96%) basing on financial regulators on coordination of monetary markets.
KOSPI (South Korea) grew by 3.91% to 1919.75 points. Nikkei Stock Average 225 (Japan) increased by 2.10% - to 8612.00 points, Topix increased by 1.77% - to 741.38 points. S&P/ASX (Australia) increased by 2.32% - to 4281.60 points. Straits Times Index (Singapore) increased by 2.34% to 2765.71.
The US Federal Reserve, the European Central Bank, the Bank of Japan, the Bank of England, the Bank of Switzerland, the Bank of Canada reported on Wednesday about coordinated efforts to stabilize the market.
Another reason for optimism is the US statistics. The number of unfulfilled real estate deals in the US increased by 10.4% in October, despite forecasts of 1.2%. The number of workplaces in private companies increased by 206,000, compared with October, the Automatic Data Processing, Inc. (ADP) reports. Analysts expected only 130,000 workplaces to open.
The Dow Jones index at the New York Stock Market grew by 490.05 points (4.24%) to 12.045,68 points. Experts say it is the biggest rise since March 2009. It is also essential for reaching the psychological mark of 12,000 points. It was reached in mid-November but failed to stay there. Standard & Poor’s-500 added 51.77 (4.33%) and reached 1.246,96 points. NASDAQ increased by 104.83 points (4.17%) and reached 2.260,34 points.
Oil increased in price as well. The November futures for Light Sweet Crude Oil in New York increased by $0.34 (0.34%) to $100.70 per barrel. January futures for Brent increased by $0.24 (0.22%) to $110.76 per barrel.
According to November 25, US strategic oil reserves increased by 3.9 million barrels (1.2%) to 334.7 million barrels. Petroleum reserves increased by 0.2 million barrels (0.09%) to 209.8 million barrels. Distillate reserves increased by 5.6 million barrels (4%) to 138.5 million barrels.
Another contribution to stabilization was caused by the US Federal Reserve System Beige Book, which notes improvements of economic activity of October-November in all federal reserve district of the USA, except Saint Luis, where a recession was registered.
