Market Report - Asia Posts End-of-Week Surge

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Uploaded by on May 3, 2008

CHAN:
Asia stocks jumped on Friday, with exporters such as Canon boosted by a weaker yen and a stronger dollar.
Japan's Nikkei rose 2 percent, closing at a 4 month high.

Financial shares such as Mizuho Financial also posted solid gains.

In Hong Kong, rate-sensitive property developers surged after the city's de facto central bank followed the U.S. Federal Reserve and lowered its base interest rate by 25 basis points.

Trade was light, with Japan looking ahead to public holidays early next week.

Investors were also waiting for fresh economic data out of the United States. The closely watched jobs report is due out later on Friday.

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