Asian stocks climb as Berlusconi officially resigns

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Source: Marketwatch
© Scanpix/Reuters

On Monday Asian markets advanced as Italy approved the austerity measures and appointed a new government leader Mario Monti lessening investor fears of enduring Eurozone debt crisis.  Japan's Nikkei Stock Average added 1.1%, Hong Kong's Hang Seng Index rose 2.4% while Shanghai Composite Index climbed 1.6%. South Korea's Kospi gained 2.3% and Australia's S&P/ASX 200 index increased at a slowest pace reaching 0.2%.

 

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Mon, 14 Nov 2011 08:00:26 GMT

China permits selling foreign shares in its equity markets

Shanghai Stock Exchange confirmed it is ready to allow foreign companies to trade stocks. According to Xu Ming, international stocks board's vice president, trading should begin soon. Trading of overseas stocks will aid Shanghai Stock Exchange to become worldwide financial center in 10 years. Listing in China's stock exchange would provide overseas firms with access to Chinese yuan and increase their market value.

Mon, 14 Nov 2011 10:12:53 GMT

US job loses claims are falling

US Labor Department announced initial claims for unemployment benefits decreased by 10000 to 390000. MarketWatch predicted it to be 398000. However, the situation in the country is still difficult as only 80000 job places were created in October while 250000 jobs per month are necessary to satisfy natural increase in labor force. US unemployment rate is 9% in October.

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