In Asia, the market performance was similarly good as countries rebounded off their worst week since at least 1987. Japan’s finance minister said he would consider a plan to guarantee all bank deposits. This would amend the current deposit insurance plan, which guarantees up to $100,000 for each account, reports Chris Oliver for MarketWatch. Japan’s financial markets are closed today for a public holiday.
China’s economic planning agency said local governments have been advised to maintain fair prices for utilities and transportation in earthquake-hit regions, and food prices will be kept stable.
Financial stocks in the region soared, sending the MSCI Asia Pacific ex-Japan (EPP) higher after a brutal week during which it lost 20%. The fund is down 48.2% year-to-date.