Economies: Asia Pac markets respond to measures; others don't

Whether AsiaPac markets have responded to interest rate cuts, were not so overvalued as first thought, have found their floor or are just having a dead cat bounce will become clear in the next few hours. But last night's signs were encouraging in the region, whilst most European and US markets continued to head for a hard landing. The UK, however, seemed to be parachuting rather then free-falling.