Excerpt from: Stock Indices CFDs and Spread Bets
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| August 08, 2006 | | After yesterday's sell-off, investors buy back stocks | Tokyo's Nikkei 225 was down yesterday after stocks fell. However, investors returned today to purchase the stocks again, boosting Japan's stock market. However, serious moves will likely not take place until after today's announcement on interest rates from the Federal Reserve, reports the Houston Chronicle:
"We're seeing some bargain-hunting today but most players aren't
ready to put on new positions before the FOMC." said Kirby Daley, a
strategist with Societe Generale's FIMAT brokerage.
Oil issues, electronics, steelmakers, telecoms and banking stocks led the gains.
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