Asian markets soar

Jocelyn Ford Jun 22, 2006
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Asian markets soar

Jocelyn Ford Jun 22, 2006
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TESS VIGELAND: Stock markets across Asia rallied today on the heels of Wall Street’s strong showing. Hong Kong and South Korea rose more than a percent. Japan’s Nikkei stock average soared three and a third percent. Jocelyn Ford has more from Beijing.

JOCELYN FORD: Japanese Investors were cheered by strong earnings from US companies. If the US economy is in good shape, then America will continue to suck in more Japanese cars and electronics.

Last month Japan’s trade surplus grew for the first time in almost a year and a half. Exports to the US were up 20 percent, cars accounted for almost half of that increase and there’s no sign of US interest in Japanese products slowing down.

But stock market analyst Gary Evans of HSBC says that doesn’t mean the stock market is out of the woods.

GARY EVANS: “I think the volatility is going to continue for some time. The market is down 20 percent over the past six weeks. I don’t think markets recover immediately when you see that sort of decline.”

Evans believes markets will continue bouncing around for several more months.

I’m Jocelyn Ford for Marketplace.

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