Asian mkts gain ahead of G-20 meet; Nikkei up 3%
At 8:09 hrs IST – Asian markets gained ahead of G-20 meet tomorrow (April 2). The Nikkei 225 Average was trading at 8,351.68, up 242.15 points or 2.99% as PM to announce third stimulus by mid-April.
Shanghai Composite was trading at 2,401.43, up 28.22 points or 1.19% and Hang Seng was up 164.16 points or 1.21%, to 13,740.18.
Jakarta Composite was trading at 1,448.8361, up 14.762 points or 1.03% and Straits Times was trading at 1,707.86, up 7.87 points or 0.46%.
Seoul Composite was up 25.87 points or 2.14%, to 1,232.13 and Taiwan Weighted was trading at 5,340.35, up 129.51 points or 2.49%.
Lee Jong-Wha, Acting Chief Economist, Asian Development Bank said, “There is a significant downside risk for not just China but also all the developing Asia because of the possibility of deeper and more prolonged global recession. Also we are worried about increase in protectionism.”