Asian Stocks Hit 7-Month High

Taipei leads region's markets on another bullish day
By Jason Farago,  Newser Staff
Posted May 4, 2009 3:34 AM CDT
The Taiwan Stock Exchange soared for a second day after the island's government said it will allow mainland China investors buy into the island's stock market for the first time since the civil war.   (AP Photo/Wally Santana)
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(Newser) – Asian stocks hit a 7-month high today as investors put aside swine flu fears and and seized on good news from China. In Taiwan the main index soared 5.6%, its second straight major gain, while in Hong Kong the Hang Seng index closed up 5.5%. European markets started the day in positive territory—Fiat stock jumped 6.1% on news of its purchase of a stake in Chrysler and plans to expand further.