Our Markets seen to open up;ECB stimulus hope lifts mood across global marmets. In addition US crude prices too recovered in overnight trade to over $29 a barrel level. At 08:45 am, SGX Niftyfutures in Singapore were trading 50.00 points or 0.68% higher at 7,356,00 indicating a gap-up opening ofr the markets.
Shares in Asia experienced further turmoil yesterday after an earlier rally petered out, extending the rout on global stock markets prompted by growing fears over the global economy. The Shanghai Composite is down 3.23% while Japan's Nikkei 225 is off 2.43% and Hong Kong's Hang Seng is lower by 1.82%. South Korea's Kospi closed in red at 0.27%. Australian market ASX 200 finished the session in the red at 0.46%
European stocks finished sharply higher on Thursday, as investors cheered the European Central Bank president's pledge to review its monetary policy at its next meeting. The pan-European STOXX 600 came off session highs, yet ended sharply higher, up 1.9 %. The CAC 40 is up 1.97% while Germany's DAX is up 1.94% and London's FTSE 100 is up 1.77%.
After Wednesday's wild ride and sizable stock market reversal that limited losses, Wall Street rebounded Thursday with the Dow rising triple digits after oil jumped 5%.The Dow ended up 116 points, or 0.7%, to 15,882.48. Climbing 0.5% was the S&P 500, up nearly 10 points to 1868.98. Practically even for the day was the Nasdaq composite, up a fractional 0.01% to 4472.06.
U.S. oil prices rebounded more than $1 a barrel from 12-year lows on Thursday. International benchmark Brent was up $1.42, or 5.1 percent, at $29.31 a barrel.. U.S. crude WTI futures settled up 4.16 % or $1.18, at $29.53 a barrel.percent, or $1.18, at $29.53 a barrel.
Gold range-bound during lacklustre session .Gold for February delivery on the Comex division of the New York Mercantile Exchange declined $8.0 to close at $1,098.20 per ounce. Comex silver for March settlement declined 4.5 cents or 0.3 percent to $14.115 per ounce.
Asian markets saw a rebound on to day, tracking the rally in European and U.S. equities overnight, getting a boost from a slight uptick in oil prices . The Shanghai Composite is up 0.39% while the Hang Seng is up 2.01%. The Nikkei 225 is trading 3.58% in green. Souh Korea's Kospi is up 1.77%. Australia's ASX 200 is trading 1.15% in positive terriroty.