Asia gripped by volatility after Fed rate cut

January 31st, 2008 by GoldSilver | Posted in Economic News |

Asian stocks ended mixed after a volatile session Thursday… as investors weighed the Federal Reserve’s half-point reduction in a key interest rate overnight and the health of the U.S. economy.

Japanese, South Korean and Australian shares rose after opening on a weak note, while Hong Kong shares gave up its early gains. Indexes in India, Taiwan and China also reversed direction at least once during the session.

“It is a real mad mess at the moment here,” said Michael Heffernan, senior client adviser at Austock Stockbroking in Melbourne.

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