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ASIAN stock markets rose yesterday, buoyed by the overnight rally on Wall Street on robust US company earnings and indications that the Severe Acute Respiratory Syndrome (SARS) outbreak may be easing.
Economic fallout in Asia from the Severe Acute Respiratory Syndrome (SARS) crisis mounted yesterday as the World Bank cut its regional growth forecast, Hong Kong received a credit rating blow, and investors dumped shares in Asian retailers and exporters to China.
B>SYDNEY:/BAustralia#8217;s biggest airline, Qantas Airways, is laying off 1,000 people, or about 3% of its workforce, as the war in Iraq, the spread of the deadly Severe Acute Respiratory Syndrome (SARS) virus and general weak economic conditions bite into its operations.