NTDTV
Market Report - Dubai Fears Ease
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Asian investors shook off concerns of Dubai’s financial woes Monday, pushing banks and regional stock markets higher on hopes potential fallout would be limited.
Financial markets shuddered last week after Dubai said it would ask creditors of its state-owned development firm to accept a debt standstill.
The yen’s step back from a 14-year high against the dollar helped to lift the Nikkei.
Shares of HSBC rose on easing Dubai concerns and a brokerage upgrade to a “buy” investment rating.
Australian banks also jumped as all big four financial players detailed exposure to Dubai.
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