For the fourth week in a row, Asian stocks seem to be doing well as governments increase spending and G20 summit concludes with US$ 1 trillion pledge to help economies globally. The Indonesian government has cut interest rates to 7.5%, and the Malaysian government recently pumped an additional US$2.70 billion into a second stimulus package. The Shanghai composite closed down 0.23%, Taipei up 1.02%, Seoul’s Kospi up 0.53%, Bangkok closed 0.70% higher, Jakarta 0.1% and Manila 2.3%. Japan’s Nikkei saw it’s best finish in nearly 3 months, closing up 0.34%. Some analysts say now is time to invest in small Asia companies.
Links and sources:
Asian Small Caps: A Real Deal?, Brett Arends of the Wall Street Journal advises.
Asia roundup: stock marts climb modestly, Business Times