Word: afternoon
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...Hong Kong's battered Hang Seng index bounced particularly strongly in afternoon trading, ending the day with a 10.2% gain. Stocks in Korea and Singapore also ended sharply higher, gaining 3.8% and 6.6% respectively. India's Sensex added 7.7%, while China's CSI 300 index, which measures both the Shanghai and Shenzhen exchanges, was up 4.12%. Japan's stock market, which last week suffered the worst rout in its history, was closed Monday for a holiday. "I think markets took a breath and will rebound in the next few days," says Sean Tsang, senior vice president of Polaris Securities...
...Cannon on a bench outside the Hair Design Team salon in Troy, where she was taking a smoking break between customers. It was a pleasant afternoon, and from where she sat, the green hills of northeast Missouri - Mark Twain country - rolled gently in every direction. A lifelong resident of Lincoln County, Cannon has seen those hills stitched with new roads and dotted with parking lots, but not so much that she can't still spy open fields in the distance...
Then why the late-Friday rebound? Certainly not from any significant easing in credit markets, where most measures of banks' unwillingness to lend to each other remained off the charts. And yet the late-afternoon sell-off that investors had come to expect - from hedge funds and other investors freeing up cash to make margin calls and pay clients wanting to withdraw money - didn't come. Instead, around 3 p.m., indexes began to rise...
Maybe. The G-7 Finance Ministers and central bankers met in Washington this afternoon and issued what they called a plan of action, although it was a curiously action-free plan. In fact, the document they produced was only an opaque statement of principles, devoid of action. "We commit to continue working together to stabilize financial markets and restore the flow of credit, to support global economic growth," the statement said. No specifics were mentioned. They may be, over the weekend, away from the glare of global stock markets...
...letter e-mailed to Faculty members yesterday afternoon, Faculty of Arts and Sciences Dean Michael D. Smith touched on topics ranging from administrative reorganization, to the undergraduate curriculum, to the effects of the recent financial crisis...