Saturday, July 18, 2009

Strong Asian Recoveries Helped by Shipping Stocks

Optimism on markets
Shipping News Feature

ASIA –Asian share markets ended Friday's trading strongly, with commodity and shipping stocks broadly advancing on hopes of a global economic recovery.

Despite Indonesian currency tumbling due to two hotel blasts, losses were negated during the day as investors remained optimistic about the country’s economic promise.

Hong Kong shares rallied for a fourth straight day early Friday, as commodity and shipping stocks joined market heavyweights China Mobile Ltd. and HSBC Holdings Plc to advance in the wake of overnight Wall Street gains.