Washington - US stocks were mostly unchanged Wednesday as the Federal Reserve put forward a mixed economic forecast for the coming years and President Barack Obama unveiled a plan to help homeowners.
The US central bank said the economy would shrink between 0.5 per cent and 1.3 per cent this year, but would likely recover to a rate of 2.5 per cent to 3.3 per cent in 2010, according to the minutes of the last Federal Open Market Committee meeting in January.
Fed Chairman Ben Bernanke said "aggressive" government action could lead to a modest recovery in 2009.
Taipei - Taiwan's economy shrank a record 8.36 per cent in the fourth quarter and was expected to contract 2.97 per cent this year, reflecting the battering the island is taking in the global economic downturn, a government agency said Wednesday.
The declines in the gross domestic product (GDP) was due mainly to the hit Taiwan's exports and industrial production has taken in the global slump and a resulting shrinking of domestic investments, the Directorate General of Budget, Accounting and Statistics said.
Beijing - Shares in China's main stock market index fell nearly 5 per cent Wednesday after a 3-per-cent drop Tuesday with analysts blaming profit taking and investor uncertainty.
The key Shanghai Composite Index, which tracks shares traded in local and foreign currencies, lost 4.72 per cent of its value, or
109.58 points, to close at 2,209.86.
The smaller Shenzhen Composite Index also plunged 4.06 per cent to close at 707.03.
After opening below 9,000 mark, the Sensex moved upward and hit a high of 9,100.36 to again fall into the negative zone due to lack of support at higher levels.
After trading few minutes in the negative terrain, the index moved up to trade on a flat note. Selling pressure has emerged in realty, banking and consumer durables stocks.
At 10:50 a.m., the 30-share index Sensex was trading at 9,046.23, up 11.23 points (0.12%). In the broader markets, the Nifty has gained 5.85 points (0.21%) at 2,776.35.
Tokyo - Japan's benchmark Nikkei 225 Stock Average ended at a four-month low Wednesday on worries over prolonged recession after Wall Street fell overnight and Finance Minister Shoichi Nakagawa resigned in disgrace.
The Nikkei index closed at 7,534.44, down 111.07 points, or 1.45 per cent, and the broader Topix index of all first section issues was also down 7.27 points, or 0.96 per cent, at 749.26.
Tokyo - Tokyo stocks ended morning trading lower Wednesday on worries over prolonged recession after Wall Street fell overnight and following a scandal involving Japanese Finance Minister Shoichi Nakagawa.
The benchmark Nikkei 225 Stock Average dipped 90.86 points, or 1.19 per cent, to end morning trading at 7,554.65.
The broader Topix index of all first-section issues was down 6.59 points, or 0.87 per cent, at 749.94.
Taipei - Taiwan's economy shrank a record 8.36 per cent in the fourth quarter and was expected to contract 2.97 per cent this year, reflecting the battering the island is taking in the global economic downturn, a government agency said Wednesday.
Beijing - Shares in China's main stock market index fell nearly 5 per cent Wednesday after a 3-per-cent drop Tuesday with analysts blaming profit taking and investor uncertainty.
After opening below 9,000 mark, the Sensex moved upward and hit a high of 9,100.36 to again fall into the negative zone due to lack of support at higher levels.
Tokyo - Japan's benchmark Nikkei 225 Stock Average ended at a four-month low Wednesday on worries over prolonged recession after Wall Street fell overnight and Finance Minister Shoichi Nakagawa resigned in disgrace.
Tokyo - Tokyo stocks ended morning trading lower Wednesday on worries over prolonged recession after Wall Street fell overnight and following a scandal involving Japanese Finance Minister Shoichi Nakagawa.
