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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

(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.

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.
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)
People watch an electric market board in Tokyo last week.
People watch an electric market board in Tokyo last week.   (AP Photo/Katsumi Kasahara)
Visitors enjoy the huge gains in the Taiwan Stock Exchange at a brokerage in Taipei, Taiwan, today.
Visitors enjoy the huge gains in the Taiwan Stock Exchange at a brokerage in Taipei, Taiwan, today.   (AP Photo/Wally Santana)
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