Asian Tyre Stock Jumps on US Auto Rebate Extension
The possibility of an extension to the US’s “cash for clunkers” auto rebate scheme has led to a bump in Asian stock prices for shares in Bridgestone, Hankook and others, according to Reuters reports. The US senate is mulling over a plan to offer 200 per cent of the original funding for its car sales booster scheme, since the billion dollar pot quickly evaporated. Purchasers can claim a rebate of up to $4,500 when they trade in old models for new, green alternatives.