Market Report Asian Stocks Climb

ANCHOR:
In Tokyo stock prices moved higher as exporters continued to make gains on the back of a weaker yen. Electronics maker Panasonic lead the gains. Shares in the company surged over 6 percent after a report said quarterly profits for the firm were likely to be better than expected.

Japan's benchmark Nikkei finished the day 3.6 percent higher.

In China market shares dipped in morning trade after the government announced lackluster third quarter growth. The National Bureau of Statistics revealed that the nation's GDP had slowed to 9 percent, more sharply than had been expected. Investors were heartened by the announcement.

In Korea news of the government's 130 billion dollar bailout helped prevent share prices from sliding further. Seoul stocks saw modest gains helping the KOSPI index to close the day over 2 percent higher. The government plan seems to have eased investor fears but critics have said the measures are too weak
to reverse the stock market trend.

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News & Politics

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