Overseas stock markets skyrocketing during the 'golden week'

Overseas stock markets skyrocketing during the 'golden week'
Oct 7, 2007 22:54
ICEBERG Points: Join Date: Sep 10, 2007 Status: offline	According to the source, the overseas stock markets had been all skyrocketing during the golden week influenced by the US stock market. In US, the Dows increased 1.23%, S&P index surged 2.02% and the Nasdaq index rose 2.9%. Encouraged by the US stock market, the Asian and European markets also kept rising in the golden week. The three stock markets in Europe had been keeping almost five days in the golden week. In China, the Hong Kong stock market experienced its up-down-up period. On Oct.3, the market created a new record. The turnover reached 210.5 Hong Kong dollars. The Hang Seng index rose about 2.5%. Some analysts said the news that China investment corporation may invest in Hong Kong was also the momentum to enhance the shares except the influence of the US stock market. Some estimate that the Hang Seng index will exceed 30000 points very soon. What do you think? What's more, the gold price also experiences the shock. At the end of Oct.5, the price per ounce was 747.2 US dollars. The data shows that US still has the power to influence the global stock markets though it has been affected by the credit crisis. But what if the US economy breaks up?

Oct 7, 2007 22:54

ICEBERG
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Join Date: Sep 10, 2007
Status: offline

According to the source, the overseas stock markets had been all skyrocketing during the golden week influenced by the US stock market.

In US, the Dows increased 1.23%, S&P index surged 2.02% and the Nasdaq index rose 2.9%. Encouraged by the US stock market, the Asian and European markets also kept rising in the golden week. The three stock markets in Europe had been keeping almost five days in the golden week. In China, the Hong Kong stock market experienced its up-down-up period. On Oct.3, the market created a new record. The turnover reached 210.5 Hong Kong dollars. The Hang Seng index rose about 2.5%. Some analysts said the news that China investment corporation may invest in Hong Kong was also the momentum to enhance the shares except the influence of the US stock market. Some estimate that the Hang Seng index will exceed 30000 points very soon. What do you think?

What's more, the gold price also experiences the shock. At the end of Oct.5, the price per ounce was 747.2 US dollars.

The data shows that US still has the power to influence the global stock markets though it has been affected by the credit crisis. But what if the US economy breaks up?

Oct 12, 2007 10:07

APAULT
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Join Date: Mar 11, 2006
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The US economy is not about to collapse, but compared with the new economies, it is on the decline. Slowly the rest of the world is going to realise that the US is a declining power (unles it gets some truly new leadership that takes on all the pressure groups and removes its protectionist policies....unlikely) and it is not really so important. There is still quite a lot of knee jerk reaction to what happens in the US market. Sure the sub prime mortgage srisis affected overseas countries because some had chosen to invest in it, but for any professional business it was a small component with the risks understood in its risk management policies. So we have seen the international markets shrug off this issue after the initial overreaction.

Oct 15, 2007 04:38

JIMMYB
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Join Date: Feb 7, 2007
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Paul, perhaps you underestimate the sub prime mortgage crisis' influence. Many nations have been affected by that, not only Euprean countries but also some Asia countries. Some nations suffer a lot. From the thread, we can see that US still has a great impact on global economies. Shares in other parts of the world are greatly influenced by US stock market though US econmy is on the decline as you said.

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