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Sunday, January 27, 2008

Share prices fall on Asia markets

Share prices in the Far East have fallen more sharply amid continuing anxiety over world economic prospects and the US outlook in particular.

Falls of 4% in Tokyo, more than 4.7% in Hong Kong and 4.6% in Mumbai come after losses on Wall Street on Friday.

Analysts say dealers are cautious ahead of another meeting of the US central bank, the Federal Reserve.

It is expected to agree on a further cut in interest rates in a bid to stave off recession in the US.

Yet despite the falls, the market mood seemed calmer after last week's ups and downs.

Last week saw global equity markets brought down by growing despair over the US economy, only to be later lifted by a $150bn (£76bn) stimulus plan agreed between the US Congress and the Bush administration.


http://news.bbc.co.uk/2/hi/business/7212465.stm

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