Friday, 22 January 2016

Asia stocks end week rallying off four-year lows

Asian stocks bounced at the end of a tumultuous week, recovering from four-year lows thanks to hints of more monetary policy support by the European Central Bank and a rally in crude oil from 12-year lows.
European markets could follow, with financial spreadbetters expecting Britain's FTSE 100.FTSE to open up about 0.4 percent, Germany's DAX .GDAXI to start the day as much as 0.9 percent higher, and France's CAC 40 .FCHI to be up as much as 0.8 percent.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 2.6 percent, the most since Sept. 9, after probing a four-year low on Thursday.
That puts the index on track for a 0.2 percent gain for a week in which oil prices plunged and China-led global growth concerns pummelled risk assets globally.
Japan's Nikkei .N225 surged 5.9 percent at the close, the most in more than four months, moving away from a 15-month low struck Thursday. 
It was boosted by speculation that the Bank of Japan would opt for additional stimulus at its Jan. 28-29 policy meeting. The rally shrank losses for the week to 1.1 percent.
Asian stocks bounced at the end of a tumultuous week, recovering from four-year lows thanks to hints of more monetary policy support by the European Central Bank and a rally in crude oil from 12-year lows.
European markets could follow, with financial spreadbetters expecting Britain's FTSE 100.FTSE to open up about 0.4 percent, Germany's DAX .GDAXI to start the day as much as 0.9 percent higher, and France's CAC 40 .FCHI to be up as much as 0.8 percent.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 2.6 percent, the most since Sept. 9, after probing a four-year low on Thursday.
That puts the index on track for a 0.2 percent gain for a week in which oil prices plunged and China-led global growth concerns pummelled risk assets globally.
Japan's Nikkei .N225 surged 5.9 percent at the close, the most in more than four months, moving away from a 15-month low struck Thursday. 

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