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Asia Stocks Pare Losses

Stocks in Asia pared losses from earlier in the session after the world's central banks moved to inject liquidity into the money markets.

Updated from 12:34 a.m. EDT

Asia stocks ended down Thursday, paring losses from earlier in the session, as the world's central banks took coordinated action to inject $180 billion into the money markets.

Japan's Nikkei 225 stock average closed down 260.49 points, or 2.2%, to 11,489.30. The Hang Seng index in Hong Kong, down more than 7% at one point, closed down by 0.03%.

The FTSE 100 index in London rose 1.1% to 4967.80, and the DAX in Germany rose 0.22% to 5874.12.

Futures in the U.S. rose after the

Federal Reserve

, along with the Bank of Canada, the Bank of England, the European Central Bank, the Bank of Japan, and the Swiss National Bank announced Thursday coordinated measures "designed to address the continued elevated pressures in U.S. dollar short-term funding markets.

Futures on the

S&P 500

rose 15.80 points to 1178.70, and were 20.39 points above fair value.


futures rose 17.00 to 1664, and were 21.35 points above fair value.

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On Wednesday, U.S. stocks took another steep dive after the

Federal Reserve

agreed to take over insurance giant


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and the financial sector was clubbed by new fears about credit.


Dow Jones Industrial Average

, just two days after shedding 504 points, fell 449.36 points, or 4.1%, on Wednesday to 10,609.66. The

S&P 500

slumped 57.20 points, or 4.7%, to 1156.39, and the Nasdaq tumbled 109.05 points, or 4.9%, to 2098.85.

This article was written by a staff member of