Market Report - Stocks Jump, Asia Focused on Olympics

And in our market report today, commodities continue to retreat on slower China demand. The dollar gains as oil prices continue to slide.

Asia markets jumped on Wednesday with investors cheered by a U.S. decision to keep interest rates on hold.
Exporters such as Honda powered higher after the U.S. Federal Reserve
indicated it was in no hurry to raise borrowing costs at a time when the
economy is slowing.
Firms such as Canon also benefited from a rising dollar. The Greenback
touched a 7-week high against the yen as global oil prices continue a recent
retreat.
Like the Federal Reserve, many Asian Central Banks are struggling with the
question of how to manage slowing economic growth at a time of rising
inflation.
Despite a roaring economy and a massive build-up to the Olympics China is
also grappling with a projected slowdown.
China manufacturers are already suffering by factory shutdowns ahead of the
Olympics to improve air quality. But with just a couple of days to go before
the Games start authorities may need to take even stiffer measures, including
pulling more cars off of Beijing clogged roads.
Smog was so bad in Beijing the national stadium was barely visible ahead of
the opening ceremony.
China has pumped 40-billion dollars into preparing for the summer Olympic
Games. Its reputation as an environmentally friendly and modern city is on the
line as the world watches over the coming weeks.

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News & Politics

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