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At midday Thursday, the blue chip Hang Seng index gained more than 400 points, or 2.65 percent. The gains came after top central banks around the world launched another round of emergency interest rate cuts to shore up confidence. On Wednesday, in a coodinated effort the European Central Bank, the US Federal Reserve, the Bank of England as well as three other national banks lowered their key lending rates. French President Nicolas Sarkosy, whose country currently holds the European Union presidency, said Wednesday's response would boost the economy and that the EU was also discussing joint action. British Prime Minister Gordon Brown said that global problems required global action.
(Deutsche Welle)
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