As the world’s second largest economy struggles to cope with the deepening economic crisis, Japan’s unemployment rate rose to 4.4 percent in February, up from 4.1 percent in January.
Wall Street suffered sharp losses after US President Barack Obama said the US may have to resort to bankruptcy proceedings to rescue ailing carmakers General Motors and Chrysler. The Dow Jones closed 3.27% lower.
Asian stocks jumped to a two-month high, dragging European shares in their wake, as markets responded positively to US Treasury Secretary Timothy Geithner's plan to rid banks of toxic assets.
Nikkei closed up 5.12%, buoyed by continuing gains on Wall Street, after the Nikkei slipped to 26-year lows last week. The Japanese government announced last month it is to launch another stimulus package.
Asian stocks jumped on Wednesday, after US banking giant Citigroup unveiled better-than-expected results. Japanese share prices rose nearly four percent in early trade while Wall Street soared six percent overnight.
After struggling US banking giant Citigroup announced better-than-expected results, Wall Street ended on a rise. The Dow Jones was up 5.7 percent, and the tech-dominated Nasdaq gained 7.07 percent.
In a move to further liberalise its economy, Syria has opened its first stock market, the Damascus Securities Exchange. It will trade on Mondays and Thursdays and deal with shares from six companies.
US stocks plunged following news on the lack of a new Chinese economic stimulus plan, and led by fears about the survival of GM. In Europe a sober mood followed yesterday's rallying, with the FTSEurofirst 300 index closing down 3.6 percent.
