Communist Laos opened a modest stock market today, hoping to attract capital to its largest enterprises and boost the economy of one of the world’s poorest nations.

Asian markets were mixed today as investor enthusiasm over rate cuts around the world gave way to persistent fears over the severe strains in credit markets and the prospect of a global recession.

Asian stock markets were down sharply today amid growing alarm over the world’s financial system as investors braced for a seismic shake-up on Wall Street involving the likely collapse of Lehman Brothers and the takeover of Merrill Lynch.