Asian Markets Enjoying Robust Economy

[pioneer]

Global markets hit new highs on Tuesday as Asian shares surged after a new record close on Wall Street.

Markets in Hong Kong, Australia and Singapore hit record levels while Japan's Nikkei index also surged ahead above 17,000 points.

On Monday, the US Dow Jones closed at a record high, after weak economic data made an interest rate cut more likely.

Shares in banks were also boosted by the perception that the worst of the summer's credit problems may be over.

Both Citigroup and UBS gave indications of the amount that the upheaval in credit markets had cost them in the past three months, but were confident that business was now returning to normal.

source: <a href="http://news.bbc.co.uk/2/hi/business/7023378.stm">BBC News Online</a>