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Wednesday, March 24, 2010

World Market Increases

World stock markets were mostly higher Tuesday, helped by an overnight rise on Wall Street after the passage of a sweeping US health care measure.
Major markets gained by 1 percent or less, reversing course after declines the day before. The dollar was up modestly against the euro and the yen, while oil prices held above $81.
Sentiment was buoyed by another advance on Wall Street, where investors seemed relieved after US lawmakers ended months of uncertainty and passed major health legislation that would extend benefits to millions and have a wide-ranging effect on companies.
Asian and European stocks lost ground on Monday as more questions about Greece's ability to resolve its debt crisis dogged investors. Though Germany's chancellor said over the weekend a bailout wouldn't be up for negotiation at a European summit this week, other regional leaders suggested a deal that might include help from the International Monetary Fund was in the works.
As trading got started in Europe, France's CAC-40 and Britain's FTSE 100 both rose 0.9 percent while Germany's DAX was up 0.7 percent.
In Japan, the Nikkei 225 stock average fell 50.57 points, or 0.5 percent, 10,774.15, bucking the broader move higher as it caught up with losses from the previous session.
Hong Kong's market added 54.53, or 0.3 percent, to 20,987.78 and South Korea's index rose 0.6 percent to 1,681.82.
Australia's index gained 0.9 percent, lifted by shares of major resource companies after commodity prices edged higher. India's market climbed 0.3 percent and Singapore shares rose 0.6 percent.
In oil, benchmark crude for May delivery was up 6 cents to $81.66 a barrel in Asia. The contract added 63 cents to settle at $81.60 on Monday.
The dollar was higher at 90.38 yen from 90.10 yen. The euro was off at $1.3521 from $1.3560.
In the US Monday, markets were led higher by shares of drug and hospital companies after the health care bill's approval.
The Dow rose 43.91, or 0.4 percent, to 10,785.89, its highest level since October 2008.
The Standard & Poor's 500 index rose 5.91, or 0.5 percent, to 1,165.81. The Nasdaq composite index rose 20.99, or 0.9 percent, to 2,395.40.

David Mikael Taclino
Inyu Web Development and Design
Creative Writer

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