After finishing the week on his guard, down 0.04% to 8,678.89 points last Friday, the index of the Tokyo Stock Exchange is in pressed green area on Monday, gaining 1.69% just prior to closing. The markets reacted positively after the summit in the euro area this weekend, to put an end to the debt crisis. Meeting in Brussels, Nicolas Sarkozy and Angela Merkel Sunday near their positions on the fateful question of European bailout fund and its clout in the marketplace. However, on request of Germany, the final decision will be taken until the night of Wednesday to Thursday, after another conclave of crisis.
Other Asian markets followed the upward trend in the Nikkei.The Hang Seng index of Hong Kong Stock Exchange rose 3.92% to 18,731.70 points, the CSI 300 Shanghai 0.66% to 2524.45 points, the Kospi index in Shanghai 2.86% to 1891 points, the BSE Sensex 30 in Mumbai 1.76% to 17,080.30 points the FTSE Straits Times of Singapore 1.95% to 2765.21 points and the S & P / ASX 200 Index 2.65% 4251.80 points Sydney.
Considering the situation "very complex", Nicolas Sarkozy has sought reassurance "negotiations progress on the issue of banks on the issue of Greece, things are progressing," he said. Selun President of the Republic, "a broad agreement is emerging on strengthening the EFSF." For its part, Angela Merkel added that the proposed model does not imply the ECB, as advocated by France.Clearly, the European bailout fund (EFSF) leverage its resources, but no new States' contribution of the euro, or use means unlimited in principle of the ECB. With leverage, the EFSF-today with $ 440 billion, and could see his strike force raised in 1000 or € 1500 billion.
The euro against the dollar stable
In addition, the euro area is considering creating a special fund that could be echoed by emerging countries to stem the debt crisis payday loans. China has expressed particular the possibility of financial support.Still, this idea is controversial, some states are reluctant to explicitly request the help of Beijing, according to diplomatic sources cited by AFP.
Until particularly critical of the slow pace until the EU to manage the crisis, the IMF, through its Executive Director Christine Lagarde, immediately praised the "very good progress" on Sunday. "It was really an effective meeting, and I hope it is really in the right direction for Wednesday," she insisted.
In addition, manufacturing activity in China rebounded in October after three successive months of contraction, according to preliminary PMI HSBC on Monday.The PMI purchasing managers calculated by the Bank rose to 51.1 in October, against 49.9 in September.
The hope of ending the crisis in Europe supports banking stocks
As a result of signals in the euro zone considered good, banking stocks rose. In Japan, Nomura Holdings gained 2.47% to 291 yen. While in Australia, Commonwealth Bank of Australia rose by 2.69% to 48.83 yen.
Also note that the Renault-Nissan hopes to sell 1.5 million electric cars in the world within five years, said Nissan (0.58% at 696 yen to the Tokyo Stock Exchange) on Monday in the part of a respect for the environment.
Oil prices were up in early trade Monday morning in Asia in electronic trading in the morning, a barrel of "light sweet crude" for December delivery gained 8 cents to 87.48 dollars on the New York Mercantile Exchange .Hand currency, the euro is stable against the dollar on Monday, the single currency displayed in the balance dollars 1.389 (-0.02%).
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