Market Report: Asia Recovery Hopes

Data over the weekend showed South Korea's Hyundai and its affiliate Kia
Motors increased their U.S. market share in April. They posted slower sales
declines than their troubled U.S. rivals.

This, coupled with better-than-expected results at KB Financial Group,
parent of the country's top lender Koomin, saw South Korean shares hit a
seven-month high.

A recovery of the won and growing signs the economy had passed its worst
encouraged flows back into equities.

Asian markets posted strong gains with Japan closed for a holiday.

In Australia, house prices fell at the fastest rate in 6 years, with a jump
in job ads pointed to growing unemployment and reviving pressure for interest
rate cuts this week.

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News & Politics

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