World markets spring to life
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AP
Published: October 13, 2008
World stock markets sprung to life today after last week’s historic sell-off, thanks to intensified efforts by governments around the world to stabilize the global financial system.
As markets opened in Europe, Britain’s FTSE-100 shot up 5.7 percent, Germany’s DAX climbed 6.4 percent and France’s CAC-40 advanced 6.8 percent.
It was much the same story earlier in Asia.
Japan’s markets are closed for a holiday, but Hong Kong’s key index surged almost 10 percent.
Markets in South Korea, Singapore and Australia were also up sharply. Banks and property developers led the advance.
Indonesian authorities announced fresh measures to keep the credit crisis from hitting Indonesian banks, but shares continued falling as a trading suspension was lifted.
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