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US vote fails to lift Asia shares | US vote fails to lift Asia shares |
(about 1 hour later) | |
Stock markets in Asia have fallen, despite the approval of a revised financial rescue plan by the US Senate. | |
Japan's main Nikkei index ended Thursday trading down 1.9%, while Hong Kong's Hang Seng had lost 1.4%. | |
Analysts said concern persisted about the rescue deal's fate in Congress, amid deep fears for the US economy. | Analysts said concern persisted about the rescue deal's fate in Congress, amid deep fears for the US economy. |
The revised $700bn (£380bn) package must still be approved by the House of Representatives, which rejected an earlier version on Monday. | The revised $700bn (£380bn) package must still be approved by the House of Representatives, which rejected an earlier version on Monday. |
Worries persist | |
Australian shares also declined after the Senate vote - losing 0.9% on Thursday. | |
There's still a lot of distrust of this bill in the House, so it's hard to know what will happen there Katsuhiko Kodama, Toyo Securities | |
Analysts there said they expected global investor scepticism to continue until the House of Representatives also backs the rescue plan, and it is seen to work. | |
The House is expected to vote on the new version of the deal on Friday. | |
"There's still a lot of distrust of this bill in the House, so it's hard to know what will happen there," said analyst Katsuhiko Kodama, senior strategist at Toyo Securities. | |
"If you look at recent indicators for the US and Japan, the economy is clearly bad. | |
"You can't expect a rebound just on the bill passing the Senate." | |
Japanese Prime Minister Taro Aso said his government would co-operate with the Bank of Japan to maintain financial stability in Japan. | |
The Bank of Japan said it had injected one trillion yen ($9.5bn) into the financial system, for the 12th straight business day. |