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| Version 0 | Version 1 |
|---|---|
| Asian shares rise on US deal hope | Asian shares rise on US deal hope |
| (about 1 hour later) | |
| Asians shares have risen strongly following the announcement that US senators will vote later on Wednesday on a revamped financial rescue plan. | Asians shares have risen strongly following the announcement that US senators will vote later on Wednesday on a revamped financial rescue plan. |
| Japan's main Nikkei index was up 108 points or 1% to 11,368 in afternoon trading on increased hopes that a new deal can be agreed this week. | Japan's main Nikkei index was up 108 points or 1% to 11,368 in afternoon trading on increased hopes that a new deal can be agreed this week. |
| Australian and New Zealand stocks also saw big gains, rising 3.5% and 3%. | Australian and New Zealand stocks also saw big gains, rising 3.5% and 3%. |
| The new US package is broadly similar to the first, but includes new measures to help gain Congress's backing. | The new US package is broadly similar to the first, but includes new measures to help gain Congress's backing. |
| One of those new clauses will raise the government's guarantee on savings from $100,000 (£56,000) to $250,000. | One of those new clauses will raise the government's guarantee on savings from $100,000 (£56,000) to $250,000. |
| Bill momentum | Bill momentum |
| To get through the Senate, the bill will require the backing of 60 of the 100 senators. | To get through the Senate, the bill will require the backing of 60 of the 100 senators. |
| However, it will then have to return to the House of Representatives, which rejected the first version of the $700bn rescue plan on Monday. | However, it will then have to return to the House of Representatives, which rejected the first version of the $700bn rescue plan on Monday. |
| The BBC's Jonathan Beale, in Washington, says a positive vote in the Senate is likely to give the bill momentum when it goes back to the House. | The BBC's Jonathan Beale, in Washington, says a positive vote in the Senate is likely to give the bill momentum when it goes back to the House. |
| Wall Street's main Dow Jones index closed Tuesday up 4.7%, recouping some of the losses seen in Monday's record one-day points fall. | Wall Street's main Dow Jones index closed Tuesday up 4.7%, recouping some of the losses seen in Monday's record one-day points fall. |
| Gloom in Japan | |
| Meanwhile data from the Bank of Japan suggests that business confidence there is worsening. | |
| Regular surveys carried out by the bank provide a snapshot of business confidence in Japan's economy. | |
| They measure sentiment by producing a figure that represents the number of firms who say business conditions are good, minus those saying conditions are unfavourable. | |
| This month's figure for confidence among major manufacturers is minus three, down from five in the previous quarter. | |
| It is the fourth quarter in a row that the figure has declined, and the first time it has been in negative territory since June 2003. | |
| What it means is that a majority of Japan's biggest firms are now pessimistic about the conditions they are operating in. |