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| Asian markets ending year on high | Asian markets ending year on high |
| (about 2 hours later) | |
| Stock markets across Asia saw strong growth in 2006, reflecting Japan's steady economic recovery and the red-hot growth seen in China and India. | Stock markets across Asia saw strong growth in 2006, reflecting Japan's steady economic recovery and the red-hot growth seen in China and India. |
| Japan's benchmark Nikkei 225 index closed its last day of trading this year at 17,225.83, up 7% on 2005. | Japan's benchmark Nikkei 225 index closed its last day of trading this year at 17,225.83, up 7% on 2005. |
| India's main Sensex Index, meanwhile, gained 46% in value in the past year - its fifth year of consecutive growth. | India's main Sensex Index, meanwhile, gained 46% in value in the past year - its fifth year of consecutive growth. |
| Analysts are generally optimistic about prospects for shares in 2007 despite concerns about the US economy. | Analysts are generally optimistic about prospects for shares in 2007 despite concerns about the US economy. |
| Some believe Japan's Nikkei index could surpass the 20,000 mark in the coming year. | Some believe Japan's Nikkei index could surpass the 20,000 mark in the coming year. |
| Optimism for 2007 | Optimism for 2007 |
| Other markets across the region ended 2006 on a high note. | Other markets across the region ended 2006 on a high note. |
| Australia's benchmark S&P/ASX 200 index rose to a record high of 5,684.4 before closing at 5,669.9, up 19% on the year. | Australia's benchmark S&P/ASX 200 index rose to a record high of 5,684.4 before closing at 5,669.9, up 19% on the year. |
| The Hang Seng index in Hong Kong closed at 19,964.72, up 34.2% on the year. | The Hang Seng index in Hong Kong closed at 19,964.72, up 34.2% on the year. |
| In Europe, the FTSE 100 closed at 6220.8 in London, a gain of nearly 11% in 2006. | |
| I am bullish on next year Jun Morita, Chibagin Asset Management See how the Nikkei performed in 2006 | I am bullish on next year Jun Morita, Chibagin Asset Management See how the Nikkei performed in 2006 |
| Japanese shares performed solidly over the past year, although the corporate scandal involving internet business Livedoor prompted a wave of selling in January. | Japanese shares performed solidly over the past year, although the corporate scandal involving internet business Livedoor prompted a wave of selling in January. |
| In general, markets shrugged off the impact of soaring oil prices, which hit a record high of $78 a barrel in the middle of the Israeli-Lebanon conflict. | In general, markets shrugged off the impact of soaring oil prices, which hit a record high of $78 a barrel in the middle of the Israeli-Lebanon conflict. |
| But the weakness of the US dollar against other major currencies, in particular the yen, has made life more difficult for exporters such as Toyota and Canon. | But the weakness of the US dollar against other major currencies, in particular the yen, has made life more difficult for exporters such as Toyota and Canon. |
| Company profits | Company profits |
| Analysts are upbeat about prospects for 2007, despite concerns about the strength of the US economy and uncertainty over whether policymakers will further relax monetary policy. | Analysts are upbeat about prospects for 2007, despite concerns about the strength of the US economy and uncertainty over whether policymakers will further relax monetary policy. |
| The Bank of Japan raised interest rates to 0.25% earlier this year, bringing to an end five years of zero rates and marking the end of its long-term deflationary strategy. | The Bank of Japan raised interest rates to 0.25% earlier this year, bringing to an end five years of zero rates and marking the end of its long-term deflationary strategy. |
| Indian markets have had a stellar year | Indian markets have had a stellar year |
| "I am bullish on next year," said Jun Morita, a fund manager at Chibagin Asset Management. | "I am bullish on next year," said Jun Morita, a fund manager at Chibagin Asset Management. |
| "Even as investors worry about the US, Wall Street is likely to continue to post growth. Given that scenario, it is difficult to imagine a sell-off in Japanese stocks." | "Even as investors worry about the US, Wall Street is likely to continue to post growth. Given that scenario, it is difficult to imagine a sell-off in Japanese stocks." |
| Confidence is also high in India, where the main Sensex index on the Mumbai Stock Exchange passed the 13,000 mark for the first time this year. | Confidence is also high in India, where the main Sensex index on the Mumbai Stock Exchange passed the 13,000 mark for the first time this year. |
| "The equities outlook remains strong in the year ahead, led by industrial growth and strong corporate earnings," said Manoj Kakaiya, a dealer with ULJK Securities. | "The equities outlook remains strong in the year ahead, led by industrial growth and strong corporate earnings," said Manoj Kakaiya, a dealer with ULJK Securities. |