Everything seems be well with the Asian market. This can be attributed to the decision of the Fed. to cut the rates to calm the turbulent situation in the U.S. Sentiments for the both U.S and that of the Asian countries seems to have lifted after a ‘not so bad’ performance by the U.S market on Tuesday. But all is not over yet and people still are cautious about the fallout from the U.S. subprime sector. Assurance have been given by the Central Bank would use all the available tools to calm the financial situation.
NASDAQ and S&P 500 had risen on Tuesday, after the Fed’s decision to cut the benchmark rate, though many analyst speculate such a cut is not actually necessity and is done only to affect the psychological factor of the traders, and it has definitely done the work. Many analyst feel that there is still a looming danger and that this issue has to be resolved for overall benefits. The Energy sector tried to pull the indices on the negative site, with the ‘Dean’ bringing chaos to the oil rigs. But the positive side was that of Apple which had gained around 4.4% and pushed Nasdaq towards positive points.