The major markets across the Asia-Pacific region ended higher on Monday, unfazed by the rocket launch by North Korea on Sunday, extending the gains for the fifth consecutive week, on increasing optimism that the worst of the global economic crisis is over and the initiatives of the governments will yield positive results in the near term.
Positive comments by Fed Chairman Ben Bernanke and U.S. Treasury Secretary Timothy Geithner also lifted the sentiment across the markets.
Bernanke, while speaking at Charlotte on Friday, said that the Federal Reserve will use all possible tools at its disposal to help the U.S economy come out of the recession. While not offering any timeline for recovery of the U.S economy, Bernanke stated that the initiatives are beginning to yield positive results. He pointed out the increase in refinance activities and drop in mortgage rates as examples of response for the Fed initiatives.
Positive comments by Fed Chairman Ben Bernanke and U.S. Treasury Secretary Timothy Geithner also lifted the sentiment across the markets.
Bernanke, while speaking at Charlotte on Friday, said that the Federal Reserve will use all possible tools at its disposal to help the U.S economy come out of the recession. While not offering any timeline for recovery of the U.S economy, Bernanke stated that the initiatives are beginning to yield positive results. He pointed out the increase in refinance activities and drop in mortgage rates as examples of response for the Fed initiatives.
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