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Monday, October 13, 2008

Most Asian markets rise after last week's sell-off

Most Asian stock markets recovered in early trading Monday after last week's historic sell-off as governments around the world intensifie d efforts to boost the ailing financial system.

In
Australia, the S&P/ASX200 index was up more than 4 per cent in response to a government plan to guarantee bank and other lender deposits for three years. The benchmark plunged over 8 per cent on Friday, its biggest single-day fall ever.

Elsewhere, benchmarks in
Singapore, South Korea and New Zealand gained more than 1 per cent, while China and Taiwan stocks traded lower.

Japan's market, where the Nikkei 225 tanked 10 per cent Friday to close out its worst week in history, was closed for a public holiday.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Thursday, Jul 17
21:00 4-Week Bill Auction 1 4.230% 4.235%
22:15 Fed's Daly speech 2
23:00 Fed's Cook speech 2
Friday, Jul 18
01:30 Net Long-Term TIC Flows 1 $259.4B $-8.2B Revised from $-7.8B
01:30 Total Net TIC Flows 1 $311.1B $-14.6B Revised from $-14.2B
04:00 Fed's Waller speech 2
08:30 Credit Card Spending (YoY) 1 2.2%
18:00 Housing Starts (MoM) 2 1.300M 1.256M
18:00 Building Permits (MoM) 2 1.390M 1.394M Revised from 1.393M
18:00 Building Permits Change 1 -2%
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