Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Hot on Facebook
Guy Buys $123 Safe on eBay, Finds $26,000 Inside Seller tries to get half the cash back, fails »

Tokyo Recovers, Shanghai Falls Again

Bargain-hunting traders shore up Nikkei after big falls

By Jason Farago,  Newser Staff

Posted Mar 18, 2008 3:30 AM CDT
Email

(Newser) – Markets in Tokyo had an up day, recovering some of yesterday's major losses as investors speculated that Japan will stand firm in the face of an economic slowdown. Insurers led the gains on the Nikkei, which rose 1.5%. Other Asian bourses also did well Tuesday, but China was an exception, reports Bloomberg: on fears of an interest-rate cut, the Shanghai-Shenzhen CSI 300 index slumped 5.2% to an 8-month low.

Wen Jiabao, the Chinese premier, announced that the government was set to take "appropriate and forceful" action to curb the country's galloping inflation rate. Last month it accelerated to its fastest rate in 11 years. Alongside a comment from China's central bank governor that he had room to tighten monetary policy, that led to big falls on the markets both on the mainland and in Hong Kong.

An investor looks at the stock price monitor at a private security company in Shanghai, China.
An investor looks at the stock price monitor at a private security company in Shanghai, China.   (AP Photo)
An investor points to the stock price monitor at a private security company Wednesday, March 12, 2008 in Shanghai, China.
An investor points to the stock price monitor at a private security company Wednesday, March 12, 2008 in Shanghai, China.   (AP Photo/Eugene Hoshiko)
An investor looks at the stock price monitor at a private security company Tuesday March 11, 2008, in Shanghai, China.
An investor looks at the stock price monitor at a private security company Tuesday March 11, 2008, in Shanghai, China.   (AP Photo/Eugene Hoshiko)
« Prev« Prev | Next »Next » Slideshow
To report an error on this story, notify our editors.
A snapshot of the day's best news stories.
 
COMMENTS
Be the first to comment on this story.

More on Wen's speech on Chinese economic policy
AFP

 
Nikkei • Hang Seng • Wen Jiabao • Asian markets • CSI 300

More Newser Stories

Global Markets Follow Wall Street Down

Asian Markets Reeling

US Woes Send Asian Stocks Tumbling

Asian Stocks Follow US Drop

G20 Hopes Send World Stocks Soaring
NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne