Market Report - Asia Awaits Bailout Plan

CHAN:
Asian investors remained cautious today with many waiting for fresh news on a U.S. government proposed $700 billion dollar bailout for the ailing financial sector.

Central banks across the region served up more cash and assurances to money markets gripped by fear of bank failures. Australia's central bank pumped extra funds into the local money market. Bank of Japan dished out nearly $30 billion in its first ever dollar supply operation.

Hong Kong's monetary authority also added funds to the market, which remained unsettled by rumors that local lender Bank of East Asia was in difficulty.

Bank of East Asia stock rebounded on Thursday but customers remained worried with many still queuing up to withdraw funds.

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