Asian markets showing optimism?

A drop ease in figures for China’s trade and South Korean growth have spurned optimism that markets may be bottoming out. Chinese exports in March fell 17 percent from last year, but the fall is significantly softer than February’s 25.7 percent drop. South Korea’s central bank said the economy managed a 0.2 sequential growth in the first quarter, good news after last year’s rapid contraction by 5.1 percent in the fourth quarter. In Beijing, government measures like cutting tax for exporters and clamping down on a yuan currency rising against the US dollar may have contributed to recent figures. In South Korea, i massive fiscal spending and severe interest rate cuts may have contributed to a new optimistic Bank of Korea forecast of 3.5 percent growth for the next year. The economy is still expected to contract by 4.2 percent in the first half of the year compared with a year ago. Japan’s Nikkei looked good at the close of this week, up 3.7 percent, after a new US $150 billion stimulus package was announced. New optimism came as a recent Organisation for Economic Co-operation and Development report dispelled any notions of global recovery. It didn’t, however, take into account take into account most recent figures.

China’s trade decline eases in March, AP
China, Korea data add signs of optimism
S korean economy set to contract

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