Asian Stocks, U.S. Futures Rally on Fannie, Freddie Takeover
By Patrick Rial and Shani Raja
Sept. 8 (Bloomberg) -- Asian stocks surged the most in eight
months and U.S. futures jumped after the U.S. government seized
control of Fannie Mae and Freddie Mac, shoring up global financial
markets reeling from more than $500 billion in credit losses.
Mizuho Financial Group Inc. and Macquarie Group Ltd. rose
more than 10 percent after the bailout of the two-biggest U.S.
mortgage guarantors lowered credit risk. Toyota Motor Corp. led
exporters higher with a 3.8 percent advance after the yen
weakened as investors sought higher-yielding assets on
speculation the move will help revive growth in the world's
biggest economy.
``It draws a line under the recent problems,'' said Nader
Naeimi, a Sydney-based senior investment strategist at AMP
Capital Investors, which manages about $108 billion. ``It's very
positive for the banking sector in particular, which has been
beaten down quite badly.''
The MSCI Asia Pacific Index climbed 4.3 percent to 121.84 as
of 10:55 a.m. in Tokyo, with financial companies accounting for
almost half of that gain. The measure on Friday closed at its
lowest level since June 13, 2006.
Japan's Nikkei 225 Stock Average rose 3.5 percent to
12,642.41 as Mizuho, the nation's second-largest listed bank,
soared as much as 11 percent to 458,000 yen.
Taiwan's Taiex Index jumped 5.5 percent for the biggest gain
in Asia on speculation the government may take action to boost
stock prices and consumer spending. All Asian markets advanced.
More than $17 trillion in global equity value has been wiped
out since October as the credit crisis and U.S. housing recession
dragged economies worldwide. Investors had worried failures by
Fannie and Freddie, which hold more than $1.5 trillion in assets
and almost the same amount of debt, would spark further losses at
financial institutions around the world.
Futures Jump
S&P 500 futures expiring in September climbed 2.6 percent to
1,273.80, the steepest advance since Aug. 5.
Macquarie, Australia's biggest investment bank which had
lost 45 percent of its value this year to the end of last week,
rose 8.9 percent to A$45.72. Woori Finance Holdings Co., which
control's South Korea's second-largest bank, advanced 14 percent
to 14,950 won, the steepest advance since July 21.
The cost to protect Asia-Pacific corporate bonds from
default fell by the most in about five months, credit-default
swaps show.
Nomura Holdings Inc., Japan's biggest investment bank,
advanced 7.8 percent to 1,474 yen after the Yomiuri newspaper
said on Sept. 6 the company may bid for a stake in Lehman
Brothers Holdings Inc. Orix Corp., Japan's biggest leasing
company, rallied 12 percent for the biggest gain in three years
to 13,340, paring its loss for the year to 30 percent.
`Dogs' Rally
Fannie and Freddie, which make up almost half the U.S. home-
loan market, were seized after the biggest surge in mortgage
defaults in at least three decades, Treasury Secretary Henry
Paulson said in Washington. Both fell more than 80 percent since
the start of the year.
``If these issues are closer to being resolved, the dogs of
the sector are likely to perform better in a recovery phase,''
said Don Williams, who manages $1.6 billion at Platypus Asset
Management in Sydney.
Toyota climbed 3.8 percent to 4,930 yen. The world's No. 2
automaker also rose after the yen weakened against the dollar and
euro. Samsung Electronics Co., the biggest computer-memory maker,
added 2.7 percent to 534,000 won.
``The market likes less uncertainty and this takes care of
that,'' said E. William Stone, who oversees $66 billion as chief
investment strategist at PNC Wealth Management in Philadelphia.
``If this helps re-stabilize the housing situation it's got to be
looked at as a positive.''
Origin Energy Ltd., Australia's biggest producer of gas from
coal seams, gained 14 percent to A$17.80 after ConocoPhillips,
the second-biggest U.S. oil refiner, agreed to pay as much as $8
billion to join a natural gas venture in Queensland.
--- On Mon, 9/8/08, boyz <[EMAIL PROTECTED]> wrote:
From: boyz <[EMAIL PROTECTED]>
Subject: [obrolan-bandar] Re: Geometry Technical 3: IHSG 2000 rebound...
To: obrolan-bandar@yahoogroups.com
Date: Monday, September 8, 2008, 9:23 AM
Hangseng +4%
Dow Fut +2%
Salam,
--- In obrolan-bandar@ yahoogroups. com, "jsx_consultant"
<jsx-consultant@ ...> wrote:
>
> Bukan ajakan bukan paksaan, mari kita nyanyi lagu NAIK DELMAN
> KEBULAN, tapi dinyanyikan dengan DELMAN diganti COMMODITY...
>
> Minyak pagi pagi ini loncat ke 108,8 dan Euro rebound ke 1,43
> dan index regional rata rata naik +3%..
>
> Medan pagi ini SANGAT MESTAKUNG untuk melakukukan suatu
> SERANGAN JAUH KEDAERAH LAWAN....
>
> Good Luck Guys...
>
>
> --- In obrolan-bandar@ yahoogroups. com, "jsx_consultant" <jsx-
> consultant@ wrote:
> >
> > --- In obrolan-bandar@ yahoogroups. com, "Stock Lovers"
> > <need.for.stock@ > wrote:
> > >
> > > Mbah..., apakah ini artinya indeks sudah mulai bullish?
> > >
> >
> > Waduh, masih ada yg belon tidur juga nih...
> >
> > Embah kirim obat tidur lagi:
> >
> > - Geometry Technical 3: IHSG 2000 rebound
> >
> >
> > Ini obat tidur yg terakhir karena embah juga mau tidur...hehehe. ..
> >
> >
> > http://www.invest20 00.net/pwlihsg. png
> >
> >
> > Serahkan SEGALAnya ama Yang Maha Kuasa...
> >
> > .....
> >
> > Good night guys...
> >
> >
> >
> > > Pada tanggal 06/09/08, Cynthia Lavenia <cyndelave@> menulis:
> > > > biar lebih nyenyak lagi DJI uda ijo, feeling sih bisa tutup ijo
> > nih
> > > >
> > > > Pada tanggal 05/09/08, jsx_consultant <jsx-consultant@ >
> > > > menulis:
> > > >>
> > > >> Nih embah kirim obat tidur buat mimpi indah.
> > > >>
> > > >> http://www.invest20 00.net/pwlbumi. png
> > > >>
> > > >> Inget, sebelum tidur berdoa dulu dan serahkan jiwa ragamu pada
> > > >> Tuhan selama tidur.
> > > >>
> > > >> Selamet tidur indah....
> > > >>
> > > >> Ada yg belon bisa tidur ?, apa perlu dikirim obat tidur yg
> lain ?
> > > >>
> > > >>
> > > >>
> > > >
> > > >
> > > >
> > > > --
> > > > Cynthia
> > > >
> > >
> >
>
