Market Report – Rally Wanes in Asia

In today’s market report… a massive relief rally in world stocks slowed to a crawl in Asia, as doubts about the euro-zone’s long-term outlook kept regional investor optimism in check.

The euro, which had surged on news of the near $1 trillion package, was slightly weaker Tuesday against the yen and dollar.

In Japan, No.2 bank Mizuho fell after saying it would issue about $8.7 billion in shares to meet tighter capital requirements.

Ahead of its financial results, world No.1 automaker Toyota declined, despite showing a return to profit, even with massive recalls.

Meanwhile, South Korea and other Asian markets eased, while Samsung slipped after announcing $21 billion in new business investment by 2020.

The Philippine share market rose, however, on optimism about the strong election showing of Benigno Aquino III, set for victory in the presidential vote.

Foto: NTDTV