Allco is an Australian asset management company. Banks have seized 14% equity as collateral after loan default.
Fortis is Belgium's largest financial services company. Its USD 1.5 billion writedown on assets has been linked to US subprime loans.
Bank of Korea has kept benchmark interest rate untouched at 5%. It has cautioned that inflation risks are outweighing slower growth concerns.
In the Taiwanese market, technology and industrials are retreating. Dow Jones Futures are trading in the negative.
The US February non-farm payroll data has given the consensus estimate addition of 25,000 jobs.
Source: Moneycontrol.com
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