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Asian, European Markets Sharply Lower
buth korea's kospi gained almost one percent on news that the country's central bank had cut its key interest rate four the second time in a month .
a south kore than man uses his mobile phone near the screen displaying stock price at the korea stock exchange in seoul, south korea, 27 oct 2008 japan's finance minister shoichi nakagawa said the government is ready to take action to steady the yen, as the group of seven finance ministers and central bank governors released a statement saying recent excessive swings in the yen's value threaten global financial and economic stability .
japanila's nikkei index closed at a 26-year low despite the government announcement of measures intended to support the country's stock market .
philippine stocks ended the day down more than 12 percent .
crude oil parices are also falling, despite opec's decision last week to cut production targets .
Generated 2008-10-29_7:18
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