Stock Markets Rebounded Sharply

Markets rebounded sharply after a massive selldown last week, which is the worst week-ever in many stock markets. The heavily oversold markets have started to make a technical rebound amid UK government's 37 billion pounds bailout for 3 major banks. The US government's effort to sped the US$700 billion bailout plan has boost investor's confidence.

The US Dow Jones Indestrial Index, France's CAC Index and Hong Kong's Hang Seng Index rose more than 10% while other markets rose more than 5%.

However, the markets have to work much harder to come out of the down trend. Most markets had fallen for 6 consecutive months. "They are far below the underlying trend. I would wait to go "short" once a set up appears and indicates the rebound is over." says chief Market Strategist Benny Lee.

Below are the performances of major indices All are yesterday's close, except Korea's KOSPI and Australia's All Ordinaries which shows current level as at 8.15 a.m. :


Indices quotes from NextVIEW Advisor

N.I.N.E.