02-02-2009, 09:24 AM
<b>Chinese Manufacturing Shrinks After Exports Collapse </b><!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>Japan is headed for its worst postwar recession after output slumped an unprecedented 9.6 percent in December from November</b>. Hitachi Ltd., the worldâs third-largest maker of hard- disk drives, tumbled 14 percent in Tokyo trading today after forecasting a record loss.
<b>South Koreaâs exports declined 32.8 percent in January, the most since figures were first compiled in 1957,</b> adding to the likelihood of the nationâs first recession since the Asian financial crisis a decade ago.
<b>Australiaâs manufacturing contracted for an eighth month in January</b>, a report showed today.
<b>China has lowered its key lending rate five times since September,</b> pressured state-owned banks to increase lending, reduced export taxes and agreed to provide support for 10 industries, from steel to autos
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<b>South Koreaâs exports declined 32.8 percent in January, the most since figures were first compiled in 1957,</b> adding to the likelihood of the nationâs first recession since the Asian financial crisis a decade ago.
<b>Australiaâs manufacturing contracted for an eighth month in January</b>, a report showed today.
<b>China has lowered its key lending rate five times since September,</b> pressured state-owned banks to increase lending, reduced export taxes and agreed to provide support for 10 industries, from steel to autos
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