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Asian markets resume northward journey on Spanish bank bailout

11 Jun 2012 Evaluate

Asian markets resumed their northward journey after a day of halt as investors’ fears about struggling Spain eased after Euro zone finance ministers agreed to lend up to $125 billion to shore up Spain’s troubled banks, with Madrid set to report its exact required amount after an independent audit is completed in just over a week. Moreover, better than expected Chinese economic data too supported the sentiments.

Meanwhile, South Korean shares climbed 1.7 percent to close at their highest level in more than four weeks on Monday after euro zone finance ministers agreed on a bailout package to recapitalize debt-stricken Spanish banks. While, Hong Kong and Chinese shares rebounded, up by 2.44% and 1.70% respectively amid a broad rally across Asia as a bailout for Spanish banks and China economic data that was not as bad as feared prompted offshore investors to cover short positions.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2,305.86

24.41

1.70

Hang Seng

18,953.63

451.29

2.44

Jakarta Composite

3,866.21

40.89

1.07

KLSE Composite

1,578.41

7.79

0.50

Nikkei 225

8,624.90

165.64

1.96

Straits Times

2,787.81

49.92

1.82

KOSPI Composite

1,867.04

31.40

1.71

Taiwan Weighted

7,120.23

120.58

1.72

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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