World Stocks Jump on China Spending Spree

Asia, Europe advance after Beijing announces $6B stimulus package
By Jason Farago,  Newser Staff
Posted Nov 10, 2008 4:43 AM CST
China announced a $586 billion stimulus package yesterdy to boost government spending on roads, airports and other infrastructure, and bigger subsidies to the poor and farmers.    (AP Photo/Ng Han Guan)
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(Newser) – China's announcement yesterday that it would spend nearly $600 billion to stimulate its economy gave a much-needed jolt to worldwide markets today. The Nikkei in Tokyo and Hang Seng in Tokyo both gained around 6%, while European exchanges also opened higher. China's spending spree also pushed up the price of gold and oil in early trading.