Financial Planning

There are some good news among all the bad. If you are a long term investor this is good news but if you are a short term speculator, you will still need to try to catch the short term up and down fluctuations in the share market. This piece of news is from Reuters.

Wednesday August 20, 2:38 am ET
By Kevin Plumberg HONG KONG (Reuters) - Most Asian stock markets edged higher on Wednesday, rebounding from a two-year low as Chinese shares surged on hopes for policies from Beijing to jumpstart growth, though many analysts said it was a long shot.

The dollar struggled as crude oil crept above $115 a barrel and gold prices edged higher, taking some of the steam out of the U.S. currency’s recent surge to a seven-month high.

World stock markets slid to the lowest since September 2006 on Tuesday, with investors increasingly skeptical about earnings expectations for 2009 given the mixed results so far in 2008 and constant reminders about instability in the financial sector.

However, most Asian indexes turned higher as cheap valuations proved irresistible, especially with markets rife with chatter about fiscal stimulus in China.

“Bargain hunters have returned to the market on talks that a rescue package is on the way,” said Francis Lun, general manager from Fulbright Securities in Hong Kong. “We are all waiting for a miracle,” Lun added.

Hong Kong’s Hang Seng index (HKSE:^HSI - News) rose 1.9 percent, after closing at a one-year low on Tuesday, with shares of China Mobile (HKSE:0941.HK - News) providing the biggest boost.

Shares of Asia’s largest wireless carrier, up 2 percent, hit a one-year low before the rally swept through the region.

The Shanghai composite index (^SSEC - News) surged 6 percent after touching a 20-month low. The index is watched by many global investors as a gauge of risk taking and a leading indicator for the world’s fastest growing economy.