Stocks: Tuesday summary

Nikkei  -153.08  (-1.68%)  8,944.48  
Topix  -12.47  (-1.59%)  770.39  
Hang Seng  -1,159.87  (-5.66%)  19,330.70  
DAX  -6.19  (-0.10%)  -5,917.08  
CAC  51.00  (1.63%)  3,176.19  
FTSE-100  +95.97  (1.89%)  5,164.92  
Dow  +429.92  (3.98%)  11,239.80  
Nasdaq  +124.83  (5.29%)  2,482.52  
S&P500  +53.07  (4.74%)  1,172.53  
10-Years    2.28%  -0.04
Oil     0.430  (0.53%)  81.740  
Gold  27.20  (1.59%)  1,740.40  

Asian markets closed Tuesday mostly lower
Japan’s Nikkei Stock Average closed down 1.7% at 8,944.48, South Korea’s Kospi ended at 1,801.35, taking a hit of 3.6%, and Taiwan’s Taiex slid 0.8% to 7,493.12.
All three benchmarks ended well off their lows — Seoul shares had in particular dropped as much as 10% earlier in the day, before sharply narrowing losses. The Kospi has now lost between 2% and 4% for six straight sessions.
Australia’s S&P/ASX 200 index staged a major turnaround from a more than 5% drop to end the day up 1.2% higher at 4,034.8.
China’s July CPI reached a higher-than-expected 6.5%, accelerating from a 6.4% year-on-year rise in June.
The Shanghai Composite ended fractionally lower at 2526.07. The index came off lows even as the country's consumer price index rose to a higher-than-expected 6.5% in July from a year earlier and above the 6.4% rate in June. But market participants said they don't expect Beijing to launch further tightening measures given the tumultuous global markets.
Japan’s Inpex Corp. fell 5.5% in Tokyo. In Hong Kong, Cnooc Ltd. lost 8.2% of its value, while stock in Angang Steel Co. plunged 12.7%.
Korean exporters were among those hit hard by heavy foreign selling, with LG Electronics losing 8.1% and Hyundai Motor shrinking 2.8%.
In Hong Kong, HSBC Holdings Ltd. fell 7.3%, Standard Chartered PLC dropped 5.6% and Bank of China Ltd. lost 7.2%.
In Tokyo, Nomura Holdings Inc. skidded 3.8% and Mitsubishi UFJ Financial Group Inc. traded down 2.4%.

European markets ended the day in green zone
The markets started trading on a dark mood on concerns over slowdown in economic recovery of US and Europe for all this week.
The main catalyst to rise was the fact that the European Central Bank today purchased Italian and Spanish debt in an attempt to curb the nation’s surging borrowing costs and prevent the crisis spreading further.
Then the markets gained as investors bet the Federal Open Market Committee will repeat its pledge to maintain stimulus measures to revive confidence in the U.S. economy.
Among big decliners in London, Royal Bank of Scotland Group PLC fell 3.9%. Silver miner Fresnillo PLC slumped 7.3%, tracking a drop in silver prices.
Shares of RWE AG sank 6.3% after the utility firm said first-half net profit fell 22% and slashed its earnings forecast, citing pressure from Germany’s decision to close its nuclear reactors. In the same sector, E.On AG fell 5.9%, intensifying pressure on the DAX.
Also in Germany, Deutsche Telecom AG fell 3.5% and Deutsche Bank AG dropped 2.9%.
Notable gainers included car maker BMW AG, up 6.3%, and telecom-equipment firm Alcatel-Lucent, up 9.2%.

US stocks bounded back between 4% and 5%
The Dow Jones industrial average soared by 430 points. This is the first bulls since US credit downgrade by agency S&P.
The stocks popped higher on the defined "extended period" language. FOMC redefined "extended period" as "at least through mid-2013" left its rates unchanged (0% -0.25%). The Fed also noted that inflation is moderated and will settle lower, but "downside risks to the economic outlook have increased."
Economy: Fed interest rates were remained unchanged (0% -0.25%)
Corporate news: Financial and Technology sectors significantly rebounded after Monday’s decline.
The Bank of America's (BAC) stock recouped some of those losses Tuesday, with shares up 17%. Financial stocks such as JPMorgan Chase (JPM) andAmerican Express (AXP) rebounded 7%, and Citigroup (C) soared more than 14%.
Boeing (BA), Alcoa (AA) and Pfizer (PFE) were among the biggest gainers on Tuesday and all rose more than 2%. Losers included Cisco (CSCO) and General Electric (GE), which both fell more than 2%.