One positive day certainly doesn’t make a stable market, but the many listing candidates in the Asian pipeline must have felt some relief yesterday as the recent equities sell-off gave way to at least one session of sizeable gains.
After five straight days of losses, the Singapore Straits Times Index added 2.9%, and in Hong Kong, where markets were closed on Wednesday, the Hang Seng Index rallied 5.7%. The gains, prompted by an improved outlook for exporters in the wake of better-than-expected US data and a growing belief that European leaders will come up with a solution to the debt crisis, sparked renewed hopes that the fourth quarter may turn...
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