Markets across Asia started the trading with huge gains after China anounced a major stimulus package
totalling more than $500 billion dollars. Stocks in Shanghai gained more than seven percent, while
indexes in Japan were up by more than five percent. Hong Kong's Heng Sang was up by more than three
percent.
China unveiled the huge stimulus package on Sunday. The communist country hopes to keep economic growth
from slowing too fast. China's economic growth slowed to nine percent in the third quarter, the lowest
levels in five years. It was also down copared to the 12 percent growth during the third quarter 2007.
The uptick in stocks in Asia has spread to Europe, where blue chips in Britain, France, Germany all
opened about three percent higher. "Short term anything looks very good, long term we are still seeing
east versus west and that means Belgium, Denmark, alomost going to bankruptcy themselves now and long
term that's still the big concern." Wall street is expected to start the week up as well. Dow Jones
Industrial futures were up more then 100 points. The Dow ended last Friday up as well rallying more
than 200 points.
Rita Foley, The Associated Press
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* stimulus : 경기부양, 자극
* communist country : 공산국가
* uptick : 상승
* futures : 선물
* end up ~ing : 결국 ~하다
* rally : 회복하다
