Asian shares bring curtain down on year of recovery | The Daily Star
12:00 AM, January 01, 2010 / LAST MODIFIED: 12:00 AM, January 01, 2010

Asian shares bring curtain down on year of recovery

Asia's markets rebounded during 2009 from losses incurred in the global financial crisis, but analysts warned of further volatility in the 12 months ahead.
More than a year after world economies went into freefall, the Asia-Pacific region has recovered strongly, largely due to the rapid deployment of massive government stimulus measures.
The year saw investor confidence return across the region. Hong Kong's Hang Seng Index ended 52 percent higher after being stripped by nearly the same amount in 2008.
In China the Shanghai Composite Index surged 80 percent while Seoul's KOSPI added nearly 50 percent.
The Shanghai Composite Index enjoyed a huge bull run in 2009 after shedding nearly two thirds of its value in 2008 as the effects of the global financial crisis took hold.
Beijing in 2008 unveiled a four-trillion-yuan (586-billion-dollar) stimulus package along with big tax breaks to boost domestic spending amid the global slump.
Japan saw a volatile 12 months as the country exited recession but saw unemployment hit a record high as prices continued to fall along with wages and a stronger yen battered exporters.
On Wednesday the Nikkei-225 closed down 0.86 percent at 10,546.44, still up 20 percent over the year.
In India, Mumbai's Sensex index added a massive 80 percent as the government's economic reforms and coordinated policy actions restored confidence with foreign investors returning.
Singapore's Straits Times Index was 65 percent higher.
The region's other markets also surged, with Sri Lanka 128 percent higher, Bangkok and Manila more than 60 percent up on the year, Kuala Lumpur up 45 percent and Wellington 18 percent higher.

Stay updated on the go with The Daily Star News App. Click here to download it for your device.

Grameenphone and Robi:
Type START <space> BR and send SMS it to 2222

Type START <space> BR and send SMS it to 2225

Leave your comments

Top News

Top News