Originally published by the Voice of America (www.voanews.com).
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March 12, 2008

Asian, European Stocks Rise on Biggest Dow Gain in 5 Years
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http://enews.voanews.com/t?ctl=1B84F26:A6F02AD83191E1603A0B930A2E75AE6D98CBE7246176B735& Major stock
indexes in Japan, Hong Kong, Taipei all closed higher Wednesday, along
with markets in Manila, Sydney, Taipei, Wellington World stock prices
are surging following major gains on Wall Street Tuesday and new
injections of cash in some major global financial markets.





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Passer-by watches digital stock price display in Tokyo, 12 Mar 2008

European markets are making strong gains in Wednesday's trading, with
most of the major markets up one percent or more by midday.

Major stock indexes in Japan, Hong Kong and Taipei all closed higher
today, along with markets in Manila, Sydney, Taipei and Wellington. 

On Tuesday, the Fed -- acting in coordination with the central banks
in Canada and Europe -- the Bank of Canada, the Bank of England, the
European Central Bank and the Swiss National Bank -- offered $200
billion to banks and mortgage providers and said it could increase the
size of the program if needed.  The other central banks offered up
about $25 billion.  The move bolstered U.S. stock markets burdened by
soaring oil prices and a weak dollar.   The Dow Jones Industrial
Average -- a main barometer of the U. S. stock market, rose
three-point-six percent, its biggest one day gain in more than five
years.

Crude oil prices remained at their record high of just over 109
dollars a barrel during today's trading.

White House spokeswoman Dana Perino said Tuesday that President Bush
welcomed the steps being taken by the Federal Reserve and the other
central banks, and has full confidence in Fed Chairman Ben Bernanke. 
Perino also said the White House is concerned about the high gasoline
prices and their impact on U.S. consumers and small businesses.

Perino, however, said there was nothing Mr. Bush could do to bring
gasoline costs down quickly and that the issue is something that
quote, "we are all going to have to work through."

Some information for this report was provided by bloomberg.


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