In Latin Markets Venezuela led the gainers in the region with a rise of 0.74% followed by increases in Mexico of 0.34%, and in Argentina of 0.29%. Brazil led the decliners in the region with a loss of 0.51% followed by losses in Peru of 0.16%.

Jamaican market surged 4.36% after the government released budget expenditure for the fiscal year. The $7 billion budget shows 23% increase in spending compared to a year ago but after adjusting for 18% inflation there is little money left for infrastructure development. More than 50% of the budget is allocated to paying interest on debt and the government may have to seek $300 million from the international credit markets. Jamaica is one of the few countries in the Caribbean region which has a history interest payment on debt, but has accumulated debt at a higher interest than the current rates in the market.

Asian Markets

In Tokyo Nikkei 225 Index closed higher 215.89 or 1.71% to 12,820.47, in Hong Kong Hang Seng index increased 621.73 or 2.74% closed to 23,285.95. Australia ASX 200 index lower 20.50 or 0.38% to close 5,351.10. In Malaysia KL Composite index increased 4.38 or 0.35% closed to 1,258.41.

In South Korea Kospi Index increased 25.59 or 1.53% to close at 1,701.83, in Thailand SET index closed higher 2.21 or 0.27% to 825.17 and Indonesia JSE Index edged increased 26.24 or 1.07% to 2,477.59. Sensex index in India increased 355.73 or 2.22% to 16,371.29.

Commodities, Metals, and Currencies

Crude oil decreased $2.39 to close at $105.19 a barrel for a front month contract, natural gas increased 15 cent to $9.83 per mBtu, and gasoline futures decreased 1.58 cents to close at 269.95 cents per gallon.

Gold decreased $17.50 in New York trading to close at $936.50 per ounce, silver closed down $0.61 cents to $17.94 per ounce, and copper for front month delivery decreased 4.15 cents to 383.15 per pound.

Wheat futures decreased 25.00 cents in Chicago trading and closed at $9.89 per bushel. Sugar decreased 40.00 cent to 11.73 cents per pound. Soybean future closed down 60.00 cents to $12.67 a bushel.

Dollar edged lower and traded near a record low against euro to $1.5798 and edged lower against yen to 99.29.

Bond Yields increased for 10-year U.S. bonds and closed at 3.44% and on 30-year bonds increased to close at 4.32%.