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| Version 5 | Version 6 |
|---|---|
| Asian markets see mixed trading | Asian markets see mixed trading |
| (about 2 hours later) | |
| Stock markets in Asia have seen mixed trading with South Korea's Kospi index up following an interest rate cut but Japan's Nikkei index falling. | Stock markets in Asia have seen mixed trading with South Korea's Kospi index up following an interest rate cut but Japan's Nikkei index falling. |
| South Korea's central bank cut rates to 4%, the third cut in a month, helping the Kospi index to end up 3.9%. | South Korea's central bank cut rates to 4%, the third cut in a month, helping the Kospi index to end up 3.9%. |
| Hong Kong's Hang Seng rose 3.3%, but in Tokyo the Nikkei closed down 3.6%, although it had been down 7% earlier. | |
| Toyota shares fell 9.2% as investors reacted to Thursday's news that the firm was cutting its profit forecasts. | Toyota shares fell 9.2% as investors reacted to Thursday's news that the firm was cutting its profit forecasts. |
| Rebound | Rebound |
| On Thursday, global shares saw sharp falls, despite interest rate cuts by both the Bank of England and the European Central Bank (ECB). | On Thursday, global shares saw sharp falls, despite interest rate cuts by both the Bank of England and the European Central Bank (ECB). |
| The Bank of England cut UK rates to 3% from 4.5% - a much bigger cut than had been expected - while the ECB cut eurozone rates to 3.25% from 3.75%. | The Bank of England cut UK rates to 3% from 4.5% - a much bigger cut than had been expected - while the ECB cut eurozone rates to 3.25% from 3.75%. |
| The UK's FTSE 100 index ended the day down 5.7%, and on Wall Street the Dow Jones index sank 443.2 points, or 4.9%, nearly matching Wednesday's 486-point slide. | The UK's FTSE 100 index ended the day down 5.7%, and on Wall Street the Dow Jones index sank 443.2 points, or 4.9%, nearly matching Wednesday's 486-point slide. |
| On Thursday the International Monetary Fund (IMF) cut its growth forecasts for the global economy. | On Thursday the International Monetary Fund (IMF) cut its growth forecasts for the global economy. |
| It predicted that developed economies as a whole would shrink by 0.3% next year, having forecast growth of 0.5% less than a month ago. | It predicted that developed economies as a whole would shrink by 0.3% next year, having forecast growth of 0.5% less than a month ago. |
| The IMF also cut its 2009 growth forecast for the global economy to 2.2% from the previous estimate of 3%. | The IMF also cut its 2009 growth forecast for the global economy to 2.2% from the previous estimate of 3%. |