financeasia-100-index-posts-record-gain

FinanceAsia 100 index posts record gain

Our Asian blue-chip index reflects a massive day in regional markets after the Fed trims rates and China continues to liberalise investment regulations.
The FinanceAsia 100 index posted the biggest one-day gain since its launch in 2002 yesterday after FridayÆs cut in the US discount rate triggered a wave of buying into Asian stocks.

The index, which tracks the 100 most profitable blue-chips in the region, added a staggering 96.9 points, or 5.4%, to finish the session at 1,870.8. This means it is now up 14.4% year to date, although still 9.3% below its record close of 2,063 points from July 24.

The gains didnÆt come in isolation, but matched those in regional markets with several key indices rising more than 4% and Indonesia leading the pack with a 7% rally followed by Singapore with a 6.1%...
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