ASIAN MARKETS MOSTLY POSITIVE ON E.U. NEWS

Jul 04, 2012

By Jane Brown

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Asian investors were optimistic today with hopes European central bankers will offer new stimulus measures.  Japan’s Nikkei rose 0.4% while Hong Kong’s Hang Seng slipped slightly.  It was a huge day on the Toronto Stock market yesterday after the long holiday weekend.  The TSX surged to a two month high also on the good news out of Europe.  The TSX was in positive territory in early trading today, but not into triple digit gains. Zoomer Radio’s financial analyst Cynthia Caskey says investors are feeling good about the E.U. possibly lowering interest rates.  She adds, “certainly this sluggish economic performance data across Europe would support the expectations of a rate cut, bringing it to an all time low of 75 basis points.  The more the Europeans can put their economic health in order, the better it is going to be for Canada.  Anytime we can have economic growth getting on more solid footing, that will be a positive for Canada and the demand for commodities.”  The European Central Bank and the Bank of England will meet tomorrow, and analysts are expecting lending rate cuts or a boost of money in circulation.  The American markets are closed today for the Independence holiday.

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