admincash into banks would be enough to unclog credit markets and ease the region’s debt crisis.
Following the ECB’s announcement that it would provide three-year loans at rates as low as 1 percent, a total of 523 banks snapped up a record 489,2 billion euros (US$641 billion).
However, some market watchers said the fact that so many institutions jumped in so quickly highlighted the precarious state that they were in.
Tokyo ended 0,77 percent, or 64,82 points, lower at 8 395,16 and Sydney shed 1,18 percent, or 48,7 points, to close at 4 090,8, while Seoul was flat, nudging 0,92 points down to 1 847,49.
Hong Kong fell 0,21 percent, or 38,22 points, to 18 378,23 and Shanghai ended 0,22 percent lower, shedding 4,85 points to 2 186,30.
The ECB move – along with strong US data, a successful Spanish bond auction and upbeat German confidence indicators – helped boost Asian markets and the euro on Wednesday but doubts soon returned yesterday. – AFP.
Online Reporter
- Herald
- July 31, 2026
- 19 views
Economy: Growth signs visible
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