Asia Stocks Go Wild After Trading Halts Set Off in Morning
- Australia, India, Thailand gauges rebound; Japan pares losses
- Central banks and government stimulus measures are in focus
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A terrible week for Asian stocks started to look a bit better as Friday evolved.
As Asia woke up to the worst Wall Street sell-off since 1987, benchmark indexes sank across the region, triggering trading halts from Seoul to Bangkok, Manila, Jakarta and Mumbai. But by the end of the trading day, Australian stocks had staged a record intraday swing to close up 4.4%. By 5:11 p.m. in Hong Kong, India was in the green and Thailand had pared a plunge of 13% to gain 0.3%, while the MSCI Asia Pacific Index gauge had trimmed its loss to 1.9% after sinking as much as 6.7%.