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it suggests that Asian central banks can switch to a more pro-growth
11-28-11

 

Nov. 9 yiwu market (Bloomberg) -- Stocks gained a third day and metals advanced after Chinese inflation slowed and Italian Prime Minister Silvio Berlusconi offered to resign. U.S. equity-index futures declined, while Treasuries climbed.The MSCI All Country World Index rallied 0.4 percent at 8:06 a.m. in London and the Stoxx yiwu market Europe 600 Index jumped 0.8 percent. Standard & Poor's 500 contracts slid 0.5 percent after a 1.2 percent gain wholesale lots yesterday. Treasury 10-year yields decreased three basis points. The euro slid 0.3 percent against the dollar. The won strengthened for the first time in three days after South Korea's unemployment rate fell. Nickel and tin each Non-slip WPC decking gained 1.1 percent, while Brent oil advanced for a fifth day.China's consumer price inflation slowed to 5.5 percent in October from 6.1 percent the previous month, while producer prices fell by more than economists had forecast, signaling the government may be able to reduce measures dollar shops to cool its economy. Italy's Berlusconi agreed to step down after the approval of an austerity plan in a vote next week, Yiwu Arts & Crafts following a surge in the nation's bond yields to a euro-era record yesterday."Now that we see inflation easing, it suggests that Asian central banks can switch to a more pro-growth 99 cent items strategy," said John Woods, Hong Kong-based chief Asian strategist at Citigroup Inc.'s private bank. "The markets wholesale shoes from china will take the near-term resolution of political uncertainties in Europe positively,"About six shares advanced for every one that fell on the Stoxx 600. Italy's FTSE MIB Index increased 1.4 percent, France's CAC 40 rose 1.1 percent and the U.K.'s FTSE 100 Index added 0.8 percent.The MSCI Asia Pacific index rose 1.1 percent, rebounding from wholesalers a two-day 0.9 percent loss. Japan's Nikkei 225 Stock Average and Australia's S&P/ASX 200 Index climbed 1.2 percent each and Hong Kong's Hang Seng Index added 1.7 percent.Nomura, OlympusNomura Holdings Inc. rose Classic DeckingWood Fiber 4.1 percent in Tokyo, Interlocking WPC flooring tiles rebounding from yesterday's 15 percent plunge, after Japan's biggest securities firm said it is unaware of any involvement in Olympus Corp.'s concealment of losses. Olympus sank 20 percent, extending yesterday's 29 percent plunge.

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