According to Reuters, the government takeover of Fannie Mae (FNM) and Freddie Mac (FRE) will do little to help the mortgage market short-term.
Reuters writes that Lehman (LEH) made a number of changes to top management.
Reuters reports that The Royal Bank of Canada may have an interest in buying Lehman.
Most markets in Asia rose.
The Nikkei was up 3.4% to 12,625. Shares in Mitsubishi UFJ Financial and Mizuho Financial Group rose on US actions to save Fannie Mae and Freddie Mac.
The Hang Seng moved up 4% to 20,732. Share in HSBC (HBC) rose more than 4%. China Construction Bank stock was also gained more than 4%.
The Shanghai Composite sold off 2.7% to 2,143.
Data from Reuters.
Douglas A. McIntyre
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