GLOBAL MARKETS-Stocks rebound on bargain-hunting, euro steadies
Posted By Admin on March 29, 2011
* Global stocks rebound as bargain-hunters emerge
* Nikkei sagged 1.5 pc earlier on radiation leaks
* Euro steadies after Trichet remarks on inflation
* Gold flat on euro, oil slides again amid Libyan turmoil
By Richard Leong
HONG KONG, March 29 (Reuters) – Global stocks rebounded on
Tuesday from early losses tied to Japans struggle to contain
the worlds worst nuclear crisis in decades, while the euro
steadied after comments by the European Central Banks chief
bolstered the view it would raise interest rates soon.
Japans Nikkei index was down about 0.3 percent in
late trading after falling as much as 1.5 percent earlier.
Early price-drops enticed bargain-minded investors who feel
stocks are undervalued and poised to rise after Thursdays end
of first quarter and the close of the Japanese fiscal year,
analysts said.
Some investors concluded now its an opportunity to pick up
some shares, said Shane Oliver, head of investment strategy at
AMP Capital Investors in Sydney. The broad trend is up and dips
are being bought.
Continued…
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