World markets mixed after Senate OKs bailout plan - KWWL - Eastern Iowa Breaking News, Weather, Closings

World markets mixed after Senate OKs bailout plan


LONDON (AP) -- World stock markets are mixed as investors continue to weigh the potential impact of the U.S. Senate passing a $700 billion bank rescue package.

In afternoon trading in Europe, major indexes in Britain, Germany and France were all in positive territory.

But the mood in Asia varied. Hong Kong's market was down for much of the day but managed a late-day rally to jump 1.1%. Japan's Nikkei 225 average fell nearly 2%, and benchmarks in Australia, South Korea and Taiwan also dropped.

One analyst in Britain says there is an optimistic view that central banks are willing to cut rates in the coming weeks, but adds there has been a "big loss of economic momentum in the last few months."

Online Producer: Mike Verlo

Powered by Frankly