Asian markets rocket led by financials

Source: Marketwatch
Asian shares rallied on Tuesday fuelled by investor sentiment on improved China's manufacturing activity. Official China PMI data issued on Sunday indicated economy switched from contraction to expansion. Hong Kong's Hang Seng Index added 2.1%, Australia's S&P/ASX 200 index gained 1.1% and South Korea's Kospi rose 2.4%. Chinese and Japanese markets stayed closed for holidays. 
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Tue, 03 Jan 2012 07:40:14 GMT

Singapore economy shrinks in the fourth quarter

Singapore's economy declined in the 4th quarter, stressing Asian exposure to the debt turmoil in Europe despite manufacturing strengthening in India and China. Country's GDP fell 4.9% on a yearly basis in the 4th quarter of 2011, compared to previous quarter when it added 1.5%, reported nation's trade ministry. Overall economy expanded 4.8% in 2011 and according to forecasts may grow between 1% and 3%

Mon, 02 Jan 2012 16:44:39 GMT

Europe leaders expected difficulties in 2012

European leaders warned that 2012 may be a challenging year as many experts predict the recession to persist. Angela Merkel said the next year would be the 'most severe check in decades' while France's President Sarkozy claimed the recession is not finished and the President of Italy called for sacrifices needed to combat the crisis.

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