Asian markets soar on end of US “fiscal cliff” issue
FXstreet.com (Barcelona) - The first equity trading day of 2013 isn't at full steam, as Japan was closed for Bank Holiday, but most of the open bourses ended higher today: South Korea's Kospi (+1.71%), Singapore's Straits Times (+1.26%), India's Bombai Sensitive (+0.84%) and Hong Kong's Hang Seng (+2.35%). Mainland China didn't open as well.
The "risk-on" tone came on news that a "fiscal cliff" deal was reached over the US, approved by theh House of Representatives and signed by President Obama. 172 Democrats and 85 Republicans voted in favor, while 16 Democrats and 151 Republicans voted against. It's been reported that this deal will add $4 trillion to the US deficit over the next 10 years.
Futures for the German DAX 30 (+2.30%) and the French CAC 40 (+1.70%) are signaling a strong market opening too, ahead of Markit manufacturing PMI data all over Europe and the German CPI report.
The "risk-on" tone came on news that a "fiscal cliff" deal was reached over the US, approved by theh House of Representatives and signed by President Obama. 172 Democrats and 85 Republicans voted in favor, while 16 Democrats and 151 Republicans voted against. It's been reported that this deal will add $4 trillion to the US deficit over the next 10 years.
Futures for the German DAX 30 (+2.30%) and the French CAC 40 (+1.70%) are signaling a strong market opening too, ahead of Markit manufacturing PMI data all over Europe and the German CPI report.
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