Asian shares extend recovery

Note: This section contains information in English only.
Source: Marketwatch
© Scanpix/AP
Asia's stocks closed higher on Tuesday expressing investors' optimism about European leaders' ability to provide solution for debt turmoil. Shanghai Composite rose 0.6%, while Hong Kong's Hang Seng Index gained 0.5%. South Korea's Kospi added 1.7%, Australia's S&P/ASX 200 index experienced modest increase of 0.2% and Japan's Nikkei Stock Average surged 1%.

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Tue, 29 Nov 2011 08:39:15 GMT

India's growth rate is likely to drop

India's growth rate is expected to have declined in the period between July and September; the rate is projected to fall below 7%, being two-years low. The decrease indicates the necessity to cease the central bank's policy aimed at lowering inflation rate. However, despite changing interest rates for 13 times since March last year, the inflation rate is still above 9%.

Mon, 28 Nov 2011 16:53:52 GMT

Steel Stocks higher on takeover bid for Commercial Metals

Steel stocks increased after the news about takeover bid for Commercial Metals Co. Carl Icahn, one of the investors, offered $1.73 billion for the company or $15 a share. Carl Icahn already has a 10% stake in Commercial Metals Co. Shares of other steel producers increased after the announcement. Shares of United States Steel Corp. gained 7.5% and shares of AK Steel Holding Corp. added 6.8%.

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