Despite the closure of the Japanese markets overnight, Asia managed to inspire a significant improvement in sentiment overnight. Stocks were lifted by the upward revision in the Asian Development Bank’s growth estimate. Ex-Japan Asian growth is now forecast at 3.9% in 2009 up from a March forecast of 3.4%. New Zealand economic data also boosted the market’s appetite for risk and sent the NZD soaring to a 13 mth high vs the USD. Full text »
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