Dhaka, Bangladesh (BBN)- US equities advanced throughout the week based on upbeat home sales data, better-than-estimated consumer confidence, and optimistic company earnings.
The Dow Jones Industrial Average closed at 9,543.52 on Thursday, marking a rise of 2.85 percent compared to last week. The NASDAQ Composite added 2.80 percent to close at 2,024.43 level during the same period, according to reports.
Asian stocks dropped initially after Asia based banks and insurance companies posted a fall in earnings. Equities rebounded led by commodity producers, as oil and metal prices surged, and increased sales of existing US housing facilities fueled recovery expectations.
Overall the Nikkei 225 closed Thursday at 10,448.43, 0.75 percent higher compared to last week. The BSE Sensex rose 625 points or 4.14 percent to 15,719.60 during the week. Indian software firms experienced augmented demand after US consumer confidence surged unexpectedly.
Locally, turnover at the country's premier bourse, Dhaka Stock Exchange, hovered around BDT 5.10 billion on Thursday. The DSE General Index closed on Thursday at 2,977.72 level, 1.66 percent lower than last week.
BBN/SS/SI/AD-28August09-7:00 pm (BST)