Asian markets recover on US bail-out hope

Most Asian markets bounced back today, hoping that a $700bn bail-out for the US financial system will soon win approval in Washington.

Japan’s Nikkei 225 index, the benchmark for Asia’s biggest bourse, gained 139.74 points, or 1.24%, to 11,399.60 by the end of the morning session. Yesterday it plunged 4.1% to its lowest in more than three years on disappointment that the US House of Representatives had rejected the bank rescue package aimed at stabilising the US financial system.