Wall Street rally fuels world markets
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AP
Published: November 14, 2008
Asian markets are posting modest gains following a Wall Street surge.
Investors are looking at beaten-down shares while global leaders gather in Washington to discuss ways to tackle the world financial crisis.
Japan’s benchmark Nikkei 225 stock average jumped 3.7 percent and Hong Kong’s Hang Seng was up 3.5 percent.
Markets in Australia, mainland China, South Korea and Singapore posted smaller gains in the 1-2 percent range.
Some analysts say investors are positioning themselves ahead of the meeting Friday and Saturday of Group of 20 leaders in Washington.
The gathering could bring decisions on mending the troubled global financial system but is unlikely to produce any quick cure for the slowdown gripping major developed economies.
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