Markets back on bullish tone after weeks of uncertainty
After a few weeks of uncertainty and hand wringing over high oil prices and the state of US consumer appetites, it looks like stock markets are back to their bullish selves.
The Hang Seng Index managed to ring the 20,000 bell again last week, and given the strong ending to the week and appetite for new shares, buyers have more money to spend.
Oil prices are expected to soften after Iran last week released 15 captive British sailors and marines (below).
While any decline in prices is good for profits at most companies, New York crude futures were still near the US$63 per barrel mark before the long weekend, meaning that oil remains a worrisome factor.
Robust demand for share offerings in marketing mode bode well for the market in general, at least in the short term.