Asian markets mixed after global rate cuts
SHANGHAI (AP): Asian markets were mixed Thursday as investor enthusiasm over rate cuts around the world gave way to persisent fears over the severe strains in credit markets and the prospect of a global recession.
South Korea, Hong Kong and Taiwan lowered their interest rates, joining a series of cuts Wednesday in the U.S., Europe and China aimed at stabilizing global markets that have plunged sharply this week.
But lower interest rates alone are unlikely to cure the crisis in confidence, analysts said.