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Published: Monday 26 August, 2013

online clothing online clothing ?Asian stocks rebound from Nikkei drop

economic news.

Oil stayed above $96 a barrel on signs of steady American hiring and stronger retail sales despite mounting signs online clothing of weakness in Chinas economic recovery.

Tokyos Nikkei 2 online clothing 25, the regional heavyweight, gained 1.9 per cent to close at 12,686.52, recovering some of its losses after Thursdays 6.4 per cent plunge that took the index into bear market territory.

Chinas benchmark Shanghai Composite Index gained 0.6 per cent to 2,162.04, coming off its lowest close in six months following Thursdays 2.8 per cent slide. Hong Kongs Hang Seng gained 0.4 per cent to 20,969.14 and Seoul added 0.4 per cent to 1,889.24. Indias Sensex rose 1.6 per cent to 19,126.03.

In early trading in Europe, Britains FSTE 100 rose 0.5 per cent to 6,336.27. Frances CAC40 gained 0.3 per cent to 3,810.53 and Germanys DAX rose 0.6 per cent to 8,143.96. retail sales rose 0.6 per cent in May, their strongest showing in six months. Also, the number of Americans seeking unemployment benefits was online clothing smaller than expected last week. stocks overnight will help to calm sentiment, said Credit Agricole CIB analyst Mitul Kotecha in a report.

Taiwans Taiex fell 0.2 per cent to 7,937.74 and Sydneys ASX S 200 rose 2 per cent to 4,791.80. Market benchmarks in Bangkok and Jakarta rose more than 3 per cent.

Dow Jones industrial futures and Standard Poors 500 futures were flat on the Chicago Mercantile Exchange.

Japanese markets have weakened following a burst of euphoria over Prime Minister Shinzo Abes economic turnaround plan. Markets had surged 50 per cent since the start of the year but doubts are mounting about whether Abes plan will work.

The Nikkeis plunge Thursday took the Japanese market to a 20 per cent decline from its May 22 high the definition of a bear market. economic data, especially hiring, improve.

Investors expect a reduction in the Feds asset purchases later this year. Such stimulus has been a key driver of the rally in stock markets and other asset prices. Analysts say markets are looking ahead to next weeks Fed policy meeting for more guidance on the scale and timing of any reductions.

Sentiment about China has turned pessimistic after May exports and retail sales weakened, fueling concern the recovery for the worlds secondlargest economy might be stalling.

News reports said Eurozone finance ministers were due to meet Friday in Rome to discuss possible support for banks. The Wall Street Journal said that might include agreement on using up to 60 billion euros to rescue financial institutions.

Such a deal would likely be viewed as positive as other components of the banking union will take a long time before they are implemented in full, said Credit Agricole CIBs Kotecha. online clothing