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SUNDAY, NOVEMBER 8, 2009
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Obama Plan Boosts World Stocks

Asia, Europe soar on multibillion infrastructure proposals

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(Newser) – Asian and European stocks advanced substantially today amid hopes that Barack Obama's proposed US stimulus package could pull the world out of an economic dive. In Hong Kong the Hang Seng shot up 7.5%, while in Tokyo the Nikkei closed up 5.2%.  Stock exchanges in London, Paris and Frankfurt all gained more than 6% in morning trading as returning confidence helped financials start to reverse recent declines.

Asian markets rallied today as President-elect Barack Obama pledged the world's largest economy will spend its way out of a recession.
Asian markets rallied today as President-elect Barack Obama pledged the world's largest economy will spend its way out of a recession.   (AP Photo/Shizuo Kambayashi)
Investors smile as they watch the stock price monitor at a private security company in Shanghai, China.
Investors smile as they watch the stock price monitor at a private security company in Shanghai, China.   (AP Photo)
A woman smiles as she watches a display showing stock prices at a brokerage firm in Hong Kong earlier this year.
A woman smiles as she watches a display showing stock prices at a brokerage firm in Hong Kong earlier this year.   (AP Photo/Vincent Yu)
Asian markets rallied Monday as President-elect Barack Obama pledged the world's largest economy will spend its way out of a recession.
Asian markets rallied Monday as President-elect Barack Obama pledged the world's largest economy will spend its way out of a recession.   (AP Photo/Shizuo Kambayashi)
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