Asian stock markets plunge - with Japan's Nikkei hitting a 26-year low (27.10.2008) je 08

BT: Japan has outlined steps to ease strains on its banks, as stocks in Tokyo today hit a low not seen in years. The closing figure: Tokyo's benchmark Nikkei Average was down six and a third percent. It increasingly appears banks will need Billions of dollars in tax based liquidity to ease the strain on capital markets. The announcement comes as the yen continues to rise despite a G-7 warning of excess currency volatility. +++ ME: Prime Minister Taro Aso says the government will expand a scheme that gives banks access to public funds and also strengthens regulations on the short-selling of shares. The prime minister also called for extending tax relief on income from stocks and dividends. +++MAZ+++