by Raymond Chatlani
On Monday, Asian stockmarkets fell as investors' nerves were rattled by possible escalating tensions in North Korea as South Korea launched live firing drills in a disputed area this morning despite threats of war from Pyongyang after an emergency U.N. Security Council meeting failed to agree on how to defuse the crisis. European markets rose on optimism for the economy. US stocks closed mixed and flat as the dollar strenghtened.
On Tuesday, Asian markets rose broadly as investors picked up end-of-year bargains and as North Korea backed off threats to strike back at South Korean military drills on a frontline island and reportedly offered concessions on its nuclear program. European stocks rallied as tensions on the Korean Peninsula eased and China took concrete action to help Europe limit its sovereign-debt crisis. US stockmarkets rose on merger activity.
On Wednesday, Asian markets were modestly up except for Japan, China and Indonesia on speculation that the US economic recovery is gathering pace. European indices rose modestly on optimism for the economy and as China's decision not to raise interest rates boosted miners. US stockmarkets rose modestly as sales of previously owned homes edged up in November, the third increase in four months after a dismal summer for home-buying.
This morning, Asian stocks mostly fell on thin trade. European stocks are mixed on US economic data. Although US new home sales rose 5.5% in November and consumer sentiment is at its highest level since June, US markets are falling with the DOW flat. This is probably becuase of a bigger than expected drop in durable orders.
A good week for commodities and global markets. This is because there is confidence that the US economy is recovering, though volumes have been low this week due to the Xmas holidays.
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