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| Version 4 | Version 5 |
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| Asian stocks up on recovery hopes | |
| (about 3 hours later) | |
| Asian shares rose on Monday as states intervened to boost their economies. | |
| But the rises in Europe were less dramatic than in Asia, with the FTSE 100 up 1.5%, Germany's Dax up 0.8% and the Cac 40 in Paris up 1.2%. | |
| In New York, the Dow Jones Industrial Average flipped between positive and negative territory and by early afternoon was down 0.2%. | |
| The MSCI index in the Asia-Pacific region had risen 5.1% but traders were cautious, saying uncertainty remained. | |
| "There is still widespread scepticism over the steps taken to unfreeze the credit markets, as it will be a while before things start looking up on a sustained basis," brokerage India Infoline said, following a change in short-term interest rates in India. | "There is still widespread scepticism over the steps taken to unfreeze the credit markets, as it will be a while before things start looking up on a sustained basis," brokerage India Infoline said, following a change in short-term interest rates in India. |
| India's Sensex rose some 440 points or 4.6%. | India's Sensex rose some 440 points or 4.6%. |
| Banks were among the main climbers in Asia and Europe. | Banks were among the main climbers in Asia and Europe. |
| Societe Generale added 2.5% after seeing profits fall more than 80%, but said it was better positioned for the downturn ahead. Later shares fell back and were 0.8% higher. | Societe Generale added 2.5% after seeing profits fall more than 80%, but said it was better positioned for the downturn ahead. Later shares fell back and were 0.8% higher. |
| Deutsche Bank was also higher, adding 3%. | Deutsche Bank was also higher, adding 3%. |
| China's ICBC was up nearly 10%, Indian lender ICICI added 8% and Australia's investment bank Macquarie rose 12.4%. | China's ICBC was up nearly 10%, Indian lender ICICI added 8% and Australia's investment bank Macquarie rose 12.4%. |
| Confidence | Confidence |
| South Korea announced an 14-trillion-won economic stimulus package on Monday that helped send shares in Seoul 1.4% higher. | South Korea announced an 14-trillion-won economic stimulus package on Monday that helped send shares in Seoul 1.4% higher. |
| Miles Remington, head of Asian sales trading at BNP Paribas Securities in Hong Kong, said: "I don't think it's a massive change in direction. | Miles Remington, head of Asian sales trading at BNP Paribas Securities in Hong Kong, said: "I don't think it's a massive change in direction. |
| "More a case of a little more confidence going forward in massively oversold stocks and ... global organized attempts to deal with the issues," he said. | "More a case of a little more confidence going forward in massively oversold stocks and ... global organized attempts to deal with the issues," he said. |
| Hong Kong's Hang Seng index rose 3% on hopes that lending limits would been lifted, helping small firms. | Hong Kong's Hang Seng index rose 3% on hopes that lending limits would been lifted, helping small firms. |
| Central banks in the US, Japan, China, as well as India, have all cut borrowing costs to boost their economies in the last week. | Central banks in the US, Japan, China, as well as India, have all cut borrowing costs to boost their economies in the last week. |
| There are growing expectations that the Bank of England and the European Central Bank will follow suit this week. | There are growing expectations that the Bank of England and the European Central Bank will follow suit this week. |