Asian stocks saw a rebound, after some good news from Apple and some tech. shares. Of course the upbeat may not remain for long because of the rising oil prices and the slow growth of the U.S economy. Some suggestions are that the FED’s need to go for a rate cut, but with the oil prices hovering around $90 do you think that would be easy!
Now who are making the big bucks; According to Reuters Hon Hai Precision shares were bought in good numbers, BTW Hon Hai makes the iPod for Apple. The other one is the PC maker Quanta Computer which again supplies to Apple. Banks were doing well in the Asian region too, like that of Australia’s Macquarie Bank and Japan’s Mitsubishi UFJ. Of course the Government Bonds fell a little on the face of rising stocks.
But the scenario may change with the U.S economy ‘slow’ growth and rising oil prices. So tomorrow is another day and let us keep the prediction on hold as of now.