Word: japanize
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...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 in Hong Kong...
...Lehman mini-bonds have staged a series of protests during the last three weeks. And on Sunday, a group of business owners, organized by Hong Kong's pro-business Liberal Party, appealed to the government to increase loans for small businesses to cover short-term operational costs. "In Korea, Japan, even Singapore, they have lots of support from the government if you're running a new business. They'll back you up," says Lau of the small-business association. "In Hong Kong, no way. If you open a new business, there's nobody looking after...
...reaching the lower 48 states. As a result, producers sent whatever wasn't used locally - 28% of total output last year - to a Liquified Natural Gas (LNG) plant on the Kenai Peninsula, where gas was chilled to a liquid state and put on tankers for Japan and other Pacific rim countries...
...Treasury Secretary Henry Paulson announced this evening that the U.S. is working on a plan to go this route, saying that it intends to use some of the $700 billion rescue package passed by Congress to pour money (with some strings attached) into any bank that needs funds. But Japan and E.U. countries like Germany have been reticent...
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...