Market Report – Asian Markets Up

In today’s market report… the U.S. dollar rose after Federal Reserve Chairman Ben Bernanke said the need for tighter interest rates will arise as the economy heals.

Hints from the Fed of eventually higher U.S. rates offered the dollar a reprieve, after a relentless slide that pushed a number of Asian currencies up.

Asian regional share benchmarks hit a 14-month peak, after gaining more than four percent this week and more than 62 percent this year.

Rising metals prices boosted mining stocks across Asia, while the dollar’s mild gains against the yen helped shares of Japanese exporters.

China’s Tengzhong is expected to finalize a deal with General Motors to acquire the U.S. automaker’s Hummer business for about $150 million. The Hummer deal, which needs Beijing’s approval, would be the first major acquisition by a Mainland Chinese firm of a distressed U.S. auto asset.

(NTDTV)