Asian markets not spared by global downturn
Updated
The crisis gripping the global economy has tightened further, with the Dow Jones industrial index in the US closing a few hours ago another 5 per cent down. That's on top of huge losses suffered on Tuesday, which were reflected in markets around the world. In Britain, the government's expected to announce a $US90 billion package to pull its banks back from the brink, after shares in several major institutions dropped over concerns they were running short of capital.
In Japan, the sharemarket took a hammering during Tuesday's trading, and yesterday was another day of poor trading for Indonesia, although there was nothing like the plunge seen on Monday. Economists in Jakarta say they're confident Indonesia can weather the financial storm.
Presenters: Shane McLeod, Tokyo; Gavin Fang, Jakarta
Speakers: Indonesian President Susilo Bambang Yudhoyono; Economist Fauzi Ichsan, Standard Chartered, Jakarta
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