Asia Bizz: Asian stock markets will finally have a really good time, as they shall be heading towards the biggest weekly gain it has seen in almost three months. The Euro on the other hand, has shot up by a strong rate especially after the Central Bank took decisions to hike its rate by next month.
Stocks were on the verge of slipping down as the situation in Libya was just out of hand, plus the fear of rising oil prices has been gripping every Asian nation. There has been a direct correlation between Asian stocks and oil prices, and the balance between these two commodities was worth watching when inflation was at its peak.
Asia is a huge importer of oil and China is the largest energy consumer on earth, thus the demand of oil will have direct relations to the stock market behaviour. Jobless rate in many nations is quite prevalent and thus the worry of inflation can boost this entire situation to a different level.
