Dhaka, Bangladesh (BBN) – US stocks dipped on Friday as China’s move to curb bank lending and data from the U.S. and Europe raised fears that the global recovery might be in jeopardy.
However, stocks rebounded towards the end of the week after regional manufacturing data instilled confidence in the economic outlook.
US stocks posted their biggest daily percentage gains in three months on Wednesday. The Dow Jones Industrial Average rose 169.67 points while the Nasdaq Composite Index added 30.66 points.
At the end of the week, stronger-than-expected corporate results and upbeat economic data drove U.S. stocks even higher.
The Dow Jones industrial Average added 270.86 points over the week to close at 10,309.24. The Nasdaq Composite Index gained 78.42 points during the same time to end at 2,226.29.
Japan’s Nikkei average surged 2.7 percent on Wednesday, marking its biggest daily rise in over two months when the benchmark Nikkei 225 rose 272.58 points to close at 10,306.83. On Thursday, Nikkei average further rose by 28.86 points to end at 10,335.69, reaching its highest close in two weeks.
Locally, the Dhaka Stock Exchange (DSE) extended its rally throughout the most part of the week. The benchmark index passed the 5,800-mark for the first time on Wednesday. The Dhaka Stock Exchange General Index (DGEN) closed the week at 5,760.95, adding 125.22 points over the last week’s close.
BBN/SS/SI/AD-19February10-5:40 pm (BST)