Wall Street Addict

Asian markets bounced back and European stocks edged higher Monday as investors snapped up stocks after last week's global sell-off and reassessed the possible fallout from U.S. housing woes on international markets.
Japan's benchmark Nikkei 225 index inched up 0.03 percent to 17,289.30, after having plunged 2.4 percent Friday. Hong Kong's benchmark Hang Seng index rose 0.8 percent, Singapore's market climbed 1 percent and Australian stocks gained 0.4 percent.
Chinese stocks hit a new record, but Philippine shares slid 1.5 percent.
Asian and European markets sank Friday in reaction to a sharp decline on Wall Street Thursday amid worries that problems in the U.S. subprime mortgage market could drag on U.S. economic growth and cause investors to pull out of riskier assets.
Some of those concerns subsided Monday as investors bought stocks that appeared oversold, betting that worries over the broader impact of U.S. mortgage market ills may have been overdone, analysts said.

Labels: Asian Markets, China, Europe, Japan