11/14/2008, 00.00
ASIA
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Asian markets recover as G20 gets under way

Gains in almost all markets except Mumbay. Expectations ahead of today’s gathering in Washington.

Hong Kong (AsiaNews) – Asian markets recovered today ahead of the two day G20 summit in Washington which should see a greater role played by developing nations in world economics.   On the eve of the meeting Japan announced that it is ready to lend 100 billion dollars to the International Monetary Fund.

China is set to confirm its plans for a massive plan for internal investment, while the Rio group, including Brazil, Argentina and Mexico, will ask that investment in developing countries is not drastically cut.

Following on from Wall Streets positive gains yesterday, up 6.67%, Tokyo closed today with a growth of 2.72%. By midmorning trading other markets were equally positive; Hong Kong (3.02%), Singapore (1.52%), Shanghai (1.40%)  Taipei (0.34%), Jakarta (1.01%) and Bangkok (1.60%).

Mumbay alone remained in the negative zone (-1%) while Seoul remained stable at -0.02%.

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