Curator / Politics Today / World Affairs / Asia /
October 31, 2008
Asia
Afghan War Deterioriating, McCain and Obama Advisers Briefed · Senior Bush administration officials briefed campaign advisers to John McCain and Barack Obama two weeks ago, on the grim news that the situation in Afghanistan is getting worse and a plan must be in place before January's Inaugural. (NYT)
Asian, European Stocks Rally On Rate Cuts · Global markets rallied Thursday as Asian and European central banks echoed the Federal Reserve's Wednesday rate decision with cuts of their own. In Asia, Japan's Nikkei 225 index rose 10% while Seoul's Kospi index soared 12%. (NYT)
Asian Markets Rebound, Hang Seng Climbs 14.4% · Asian stocks staged a surprise rally Tuesday led by the Hang Seng which climbed 14.4%, its biggest daily gain since February 1998. Japan's Nikkei 225 index also gained 6.4% after the Japanese government instituted a ban on naked short selling of stocks.(FT)
Dixon/Hadas: How to Control a Currency Panic [OPINION] · Edward Hadas and Hugo Dixon of Breakingviews.com argue that China, Japan, the United States and Britain should immediately rally world governments to defend target exchange rates or risk a complete breakdown in the global trade system. (NYT)
China To Lend $25B To Russian Firms Hit By Credit Crisis · China is reportedly in talks to extend up to $25 billion to Russian oil companies hit by the credit crisis in exchange for access to 300 million tonnes of Russian oil over the next 20 years. (Reuters)
Overseas Markets Roiled Amid Currency Concerns · Asian markets fell sharply Monday as the Group of Seven cautioned against the yen's rise and the Japanese government moved to recapitalize domestic banks and curb short-selling. Japan's Nikkei 225 Index fell 6.4% to reach its lowest closing level since October 1982 while the Hang Seng lost 12.7%. (NYT)
Global Markets Plunge Amid Recession Fears · Asian and European stocks neared multi-year lows Friday as fears of a global recession mounted. Japan's Nikkei 225 index dropped 9.6% while the FTSE 100 fell 5% after data revealed the U.K. economy contracted for the first time since 1992. (FT)
IMF Offers $6bn Package To Pakistan · The International Monetary Fund offered Pakistan $6 billion to help stabilize the country's economy. Pakistan has not accepted the rescue package, which is said to be unpopular with the Pakistani public. (Pakistan Dawn)
Markets Roiled In Europe And Asia, Nikkei Falls 6.8% · Asian and European stocks declined sharply Wednesday as global financial institutions continued deleveraging and European currencies fell to their lowest points against the dollar in years. The Nikkei 225 stock average plunged 6.8% after three days of gains as the yen surged. (NYT)