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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...

Author: /time Magazine | Title: Asian Stocks Rebound After Last Week's Record Rout | 10/13/2008 | See Source »

Nothing special was going on, one mom explained. "We don't make a lot of money," said Tammy Pyle, "so we just hang out and have fun together." Another mom volunteered that the key to this neighborly spirit is that they steer clear of politics when shooting the breeze. But they made an exception in this case...

Author: /time Magazine | Title: For White Working Class, Obama Rises on Empty Wallets | 10/12/2008 | See Source »

...Hong Kong's Hang Seng index continued its weeklong swoon, falling 7.19% after recovering slightly on Thursday. Korea's Kospi index fell 4.13%, while India's Sensex lost 7% of its value after plummeting in morning trading. China was not spared. The CSI 300 index, which tracks both the Shanghai and Shenzhen exchanges, was down 4.43%. Singapore's main index fell 7.72% amid economic news that the island state has slipped into recession for the first time since 2002. In a speech Friday, Singaporean Prime Minister Lee Hsien Loong predicted a continued "rough ride" for Asia. "The world is caught...

Author: /time Magazine | Title: Fear and Despair as Asia Markets Plunge Again | 10/10/2008 | See Source »

...extension of the barbershop in the back of the clothing store, FSC-Barber now has its own home in the West Village (5 Horatio Street; 212-929-3917). It aims to recreate the atmosphere of the olden days, when men would gather daily at the local barbershop to hang out and discuss sports and politics. FSC-Barber offers hair cuts and shaves complete with hot towels and a straight-edge razor, but just to show it's got a modern edge, it also offers special treatments like the "Hangover Remedy": After a rough night on the town, they'll wrap...

Author: /time Magazine | Title: Travel News: Italy Promises Star Ratings for Hotels | 10/10/2008 | See Source »

Chilling out is no mean feat for traders and investors these days, though; they appear to see panic selling as the better option. On Friday, Hong Kong's Hang Seng fell 7.19%, while trading in Australia shot down 8.2%. Japan's Nikkei index dropped 9.62%, bringing its total loss for the week to 24%. Even before Asia's miserable day was over, European markets gave new force to the glumfest, opening with plunges near or in double digits. By day's end, those declines had been scaled back to 8.85% on London's FTSE 100, 7.7% on Paris...

Author: /time Magazine | Title: What Will Break the Worldwide Panic Reaction? | 10/10/2008 | See Source »

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