Bloomberg Business – Japanese stocks soar. The Nikkei 225 Stock Average surged 7.7 percent to 18,770.51 in Tokyo, posting its biggest one-day gain since October 2008. The huge move came after a week that saw a large increase in short-selling on the Tokyo Stock Exchange over the past week, with short-selling accounting for 40 percent....
CNN Money – U.S. oil is about to get squeezed even more. The Saudi-led cartel’s master plan to pump record amounts of oil in order to squeeze other producers out of the market appears to be working. «The strategy…appears to be having the intended effect of driving out costly, ‘inefficient’ production,» the International Energy Agency....
Bloomberg News – China equities fall. The Shanghai Composite Index dropped for a second day, closing 3.5 percent lower after a session that saw volumes 36 percent below their 30-day average. Trading in Chinese equity futures, down 99 percent from the June high due to a government clampdown, remained thin as brokers try to tempt....