Asian markets fell yesterday as investors remained sceptical and worried the deteriorating economy would not receive immediate help from the US stimulus plan. Tokyo stocks dropped 3%, led mostly by banks and exporters, as trading resumed after a holiday. Hong Kong's Hang Seng Index fell 2.3%, while Shanghai Composite lost 0.6%. The major indexes in Asia are likely to remain on a downward trend today.
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Asian markets are expected to be flat today before the US stimulus package is unveiled. Yesterday the major indexes in Asia closed mixed with Shanghai and Hong Kong extended the rising after China's stimulus plan announced last week, while Tokyo and Seoul declined.
Asian markets opened higher today after Wall Street's gains. Yesterday Asia's major indexes closed broadly weaker on the further gloomy economic data of the US. Tokyo and Shanghai markets were slightly down while Hong Kong stocks gained 0.9% on hope of Chinese government's support to the mainland shares.
Asian markets are likely to post solid gains on Thursday, as U.S. stocks rallied on optimism over a fresh rescue package to help banks to remove toxic assets. The Nikkei stock average rose 1.2 percent on Thursday, buoyed by exporters such as Advantest Corp on a softer yen and after optimism about the U.S. government's rescue plan boosted Wall Street.