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Hong Kong: Most Asian stock markets have slipped after a two-day rally, tracking Wall Street lower amid concerns that worldwide efforts to boost the financial system won't be enough to stave off a global recession.
Japan's Nikkei 225 index, however, rallied late in Wednesday's session to gain 99.90 points, or 1.06 per cent, to close at 9,547.47 after surging 14 percent on Tuesday - its biggest single-day gain ever. Hong Kong's Hang Seng Index was down more than 2 per cent in afternoon trade after rising more than 13 percent the previous two days.
Markets in Australia, South Korea, China and Taiwan were also lower.
The drop followed US markets, where major benchmarks pulled back on Tuesday after President George W. Bush announced the government would use part of the $700 billion financial bailout to pump capital into major banks.
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