Market Report - G20 Cheers Asia

Asian shares are up after G20 leaders pledged to boost the International Monetary Fund by more than a trillion dollars. What appeared to be good policy coordination between the world leaders at the summit may be helping the markets. There's growing optimism among traders that economic recovery is now in sight. In Japan, the Nikkei rose to a 3-month high. The yen fell to 100 to the dollar--which helps exporters--and that boosted automaker stocks. Toyota Motor rose over seven percent on renewed confidence. The world's second biggest steelmaker, Nippon Steel, ended higher, despite saying it will book nearly $700 million in losses on securities holdings. Meanwhile, many investors are still waiting for U.S. payroll data later today to see whether the economic optimism is justified.

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News & Politics

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