Asian markets started the week on a positive note, as bargain hunting set it. The Nikkei edged up .2% to 8593, although Renesas Electronics plunged 10.6%. The ASX 200 rallied 1%, led by miners, and the Hang Seng rose .5% to 18800. In China, the Shanghai Composite advanced 1.2%, bouncing off a one month low. Markets in South Korea were closed for a holiday.
In Europe, stocks ended mixed as early gains faded in the afternoon. The DAX dropped .3%, the CAC40 declined .2%, while the FTSE rose .1%. In Spain, Bankia tumbled 13.4% after last week’s request for government funding. The IBEX, Spain’s main stock market index, slumped 2.2%.
US markets were closed for Memorial Day.
Currencies
The Australian dollar rallied .8% to .9847, while most other currencies traded in narrow ranges. The euro and Swiss franc both rose fractionally, while the pound and yen each edged up .1%. The Canadian dollar ticked up .3% to 1.0236.
Economic Outlook
Greek polls are showing a lead for the candidates in favor of a European bailout, a positive sign for the eurozone’s stability.
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Spanish Markets Tumble, Asia Gains
Published 05/29/2012, 09:04 AM
Updated 05/14/2017, 06:45 AM
Spanish Markets Tumble, Asia Gains
Equities
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