World Stock Markets

NOV 28, 2011

Asian shares gained on Monday 28 November 2011in the morning session after Black Friday sales in the US increased to a record, strengthening the outlook for exporters, and as commodity prices rose.

The MSCI Asia Pacific Index gained 2% to 111 as of 10:58am in Tokyo. Japan’s Nikkei 225 Stock Average rose 1.9%, while Australia’s S&P/ASX 200 gained 2%. South Korea’s Kospi Index advanced 2% and Hong Kong’s Hang Seng Index rose 1.7%. In China, Shanghai Composite Index was up 0.05%.

In the US, Black Friday sales rose 6.6% to a record. Consumers spent $11.4 billion, ShopperTrak said. Foot traffic surged 5.1% on Black Friday, according to the Chicago-based research firm.

Investors were optimistic that the International Monetary Fund may help Italy after the nation’s borrowing costs jumped. The IMF is preparing a €600 billion loan for Italy in case the country’s debt crisis gets worse, La Stampa reported.

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