PETALING JAYA: Asian bourses extended their losses yesterday in reaction to Standard & Poor's (S&P) downgrade of US credit rating while trade in European equities was volatile even after European Central Bank (ECB) president Jean-Claude Trichet said the central bank would buy Italian and Spanish bonds.
Investor concerns were also not assuaged despite assurances by finance ministers and central bankers of the Group of 20 and Group of 7, who said they would take “all necessary initiatives in a coordinated way” to ensure financial sustainability.
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