Many Asian stock markets regained losses on Thursday as six central banks provided massive amounts of liquidity to the world’s financial system to counteract the panic caused by the collapse and takeovers of financial institutions on both sides of the Atlantic.
In Hong Kong, the Hang Seng had its most volatile day for at least five years. It fell 7.7 per cent during the morning session. News of the intervention came in the last of half an hour of trading in the afternoon and the index rallied to show a gain of 1.2 per cent on the previous close within twenty minutes. But the benchmark then fell back in the next ten minutes to close almost unchanged on the day, down 0.03 per cent at 17,632.46.
