Depression Watch Nov. 18 2008

Dow Close (Tues)       8,424.75    151.17
Oil                          $53.55         0.84 (-)

While the recession appears to be global, the extent to which the recession is truly global may depend on a new look at Asia.

Supporting Quotes

[1]
HONG KONG (MarketWatch) -- Asian stocks recovered from steep losses to trade mixed late Wednesday, with Shanghai's Composite surging 6.1% to lead regional gainers, as investors chased Sinopec shares on hopes that a new gasoline tax under consideration could herald market-based pricing for fuels. --- Other regional indexes traded lower, while India and the Philippines rose. Most declining markets pared back early losses in late trade, although the mood remained fairly downbeat amid evidence of further economic slowing in the region.

[2]
The head of Japan's largest brokerage, Nomura Holdings, has suggested the global liquidity crisis is over. --- Nomura chief executive Kenichi Watanabe said the main problem now was how to revive the real economy. -- BBC

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