Good morning traders!

In Asia today, the Nikkei was up 322.54 points at 7,377.52, while the Hang Seng
ended the morning up 340.72 points at 12,034.77.

Crude oil was up 9 cents at $45.66 a barrel on Nymex.

Happy trading!

G.

Morning all. Market reports:

Telegraph
The Times
The Times (Need to know)
FT
The Guardian
The Independent
This is Money

World markets staged a surprise bear-market rally on positive news from embattled Citigroup and the expectation that a rule aimed at foiling US short-sellers will be reintroduced. Investors also took solace in comments on the future of mark-to-market accounting rules, which have been at the root of the many hundreds of billions of dollars of write-downs seen in the banking industry.
Citigroup and ban on short-sellers start bear market rally

The agency is considering reinstating the uptick rule, which prohibits shorts from selling when stocks are falling, in order to stem the bleeding in the markets.
SEC may take aim at short sellers again

The US Congress gave its final approval on Tuesday to a $410bn omnibus spending bill to fund government activities until the end of September after Democrats prevailed in a week-long struggle to round up the necessary votes.
US Senate passes $410bn spending bill

US industrial companies such as Eastman Kodak, media firms such as Univision Communications and carmakers including Ford and General Motors have a 45% chance of going bust in the next 12 months, according to a report published today.
Credit agency names 283 US firms most likely to go bust

A "Great Recession" was predicted yesterday by the director-general of the IMF, Dominique Strauss-Kahn. The IMF chief explained that the economic data has worsened since January, when the IMF forecast global growth of 0.5 per cent this year, kept positive by relatively bullish performances from emerging nations such as China and India the advanced economies are already predicted to decline.
'Great Recession' nears as G20 splits

The Office for National Statistics reported yesterday that manufacturing output fell by 6.4 per cent in the three months to January an even faster rate of decline than the 4.9 per cent contraction seen in the quarter to December. The motor industry was one of the hardest-hit sectors output falling by 10.6 per cent during the quarter. Overall, the annual rate of decline in output has reached an alarming 12 per cent.
UK economy set for worst year since 1931 as output collapses

The combined funding shortfall of Britain's defined benefit pension schemes has soared to a record 219bn as equity values continue their downward slide and the economic crisis intensifies.
Pension deficit soars to record as asset values crash

Moody's ratings agency, which triggered a storm of selloffs and criticism last month with a warning on banks exposed to Eastern Europe, called Tuesday for more differentiation of credit risks in the region.
East Europe Credit Risks Vary, Moody's Warns

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

KOSPI	VIX	GOLD	NYMEX CRUDE

End-of-day Market Overview