Britain and Europe
The FTSE, CAC and DAX reversed direction and ended the shortened trading week on the plus side. The markets here continue to follow those in the United States in direction, so when the Nasdaq rose on optimism that the worst of the technology shares' declines had passed, the FTSE, CAC and DAX believed it and went along for the ride. The rally shows investors' conviction that things will get better beyond the dismal first quarter that is expected.

Asia
Rebounding technology shares provided most Asian stock markets with strong gains, although broader exuberance was kept in check by concern that the robust Wall Street increases may be short lived. Japanese exporters' equities added to gains amid expectations that the U.S. economy will avoid a prolonged slowdown. Initially on Monday and Tuesday, Japanese investors reacted with disappointment to the government's new stimulus package. But after that, the week's main trading trigger was improved performance on U.S. exchanges, concentrating on technology and particularly chip related companies.

But political uncertainty may have been one factor holding the market back from further gains, as traders wait for the outcome of Liberal Democratic Party leadership elections. As of Thursday, four candidates had declared themselves, with the choice due to be made on April 24th. The winner will almost automatically become prime minister. The candidates' approaches to economic policy are very different, so many investors are marking time until the winner becomes clear.

Introduction   •   Global Stock Market Indexes   •   Recap of Global Markets   •   Currencies   •  Indicator Scoreboard

The Bottom Line   •   Looking Ahead