HONG KONG: Asian stocks edged up on Tuesday to score their biggest monthly rise in a decade as some investors bet the most painful stretch of
corporate earnings damage may be over and bought technology shares. As the first quarter and Japan's financial year draws to a close, stocks, oil prices and higher-yielding currencies gained after a one-day battering on news that the US government was considering pushing General Motors into bankruptcy. Government bonds retreated as equity markets regained their composure, while the dollar slipped as investors favoured riskier assets. Asian stocks outside Japan finished the first quarter with a dip of around a per cent but were up around 14.3 per cent in March, the largest monthly gain since April 1999. "There has been a huge change in sentiment. Rather than anticipating huge sell-offs in the US, we've been anticipating rallies," said Peter Wright, a dealer with Burrell Stockbroking in Sydney. Many stock markets have thrashed in ranges near last year's lows, with investors cautious about calling a turnaround as the global economy remains mired in a deep recession. read more
corporate earnings damage may be over and bought technology shares. As the first quarter and Japan's financial year draws to a close, stocks, oil prices and higher-yielding currencies gained after a one-day battering on news that the US government was considering pushing General Motors into bankruptcy. Government bonds retreated as equity markets regained their composure, while the dollar slipped as investors favoured riskier assets. Asian stocks outside Japan finished the first quarter with a dip of around a per cent but were up around 14.3 per cent in March, the largest monthly gain since April 1999. "There has been a huge change in sentiment. Rather than anticipating huge sell-offs in the US, we've been anticipating rallies," said Peter Wright, a dealer with Burrell Stockbroking in Sydney. Many stock markets have thrashed in ranges near last year's lows, with investors cautious about calling a turnaround as the global economy remains mired in a deep recession. read more
