The heavy rains hit regions of Morocco that have been suffering from drought for at least six years
Hong Kong's benchmark tumbled over 3 percent, while stock measures in South Korea and India fell more than 0.5 percent. Further weighing on the region were figures showing China's exports plunged 17.5 percent in January _ the sharpest drop in more than a decade _ amid the global slowdown.
As in the U.S., investors across Asia questioned whether America's revamped bailout program, unveiled Tuesday by Treasury Secretary Timothy Geithner, would be enough to absorb the bad assets saddling bank balance sheets and free up the credit markets that govern lending to consumers and businesses.
Geithner said the plan to get trillions of dollars in financing flowing through the world's largest economy was urgently needed as part of the government's effort to stave off “catastrophic failure" of institutions. A centerpiece involves the government teaming with the private sector to buy up to $1 trillion in souring assets from financial firms. A separate lending program would be expanded to as much as $1 trillion from $200 billion for consumers and businesses.
Investors, however, complained about whatD LEAD IN: Patrick Marleau, Milan Michalek and former Boston captain Joe Thornton scored in a breath taking six minute span in the third period to rally the San Jose Sharks to a 5-2 victory over the Boston Bruins in a match up of the NHL's top two teams on Tuesday night (10/02). The Eastern Conference-leading Bruins, on top of the NHL with 85 points, carried a 2-1 edge into the third period behind two first-period goals by Milan Lucic. Boston had been 26-0-2 when leading after 40 minutes. The West-leading Sharks, trailing in the third period for only the 12th time this season, fought back. San Jose leads the West with 81 points. SUGGESTED VOICEOVER: Joe Thornton, once a captain of the Bruins, was back in Boston on Tuesday night to lead the San Jose Sharks against his former team. The Bruins took a 2-1 lead after one period on a pair of goals by Milan Lucic. The 20-year-old had previously missed eight of the last 16 games with a pair of injuries, scored on two rebounds. The first, off Dennis Wideman's shot, gave Boston a 1-0 lead. Rob Blake was responsible for getting the Sharks even when he let a power-play shot go from the right point that appeared to hit Blake Wheeler and Wideman before sneaking past Tim Thomas. The goal was originally given to Joe Pavelski, but Blake was ultimately given credit. Lucic's second, another rebound - this time from a strike from Petteri Nokelainen, put the Bruins back up by one goal. The score stayed that way until Marleau tied it with his 27th goal at after just over three and half minutes of play in the third period. Michalek and Thornton then struck two minutes and 20 seconds apart to secure the victory. Marleau assisted on the goal by Thornton, who played his second game in Boston since he was traded to the Sharks, on November 30, 2005. Thornton got off to a good start in Group 4 with a 1-0 home victory over Colombia's America de Cali in Montevideo.
A well-balanced match, played for the most part under torrential rain, was settled by a downward header from defender Pablo Gaglianone in the 38th minute following a Diego de Souza free-kick.
America pushed forward in the second half in search of an equalizer, but the Uruguayan defense held firm, with Defensor goalkeeper Martin Silva making a crucial save in the 59th minute to deny striker Adrian Ramos.
The other clubs in Group Four, Brazilian league-winners Sao Paulo and Colombia's Independiente Medellin, will face off in Brazil on Feb. 18 in the group's second fixture.
The Copa Libertadores continues with a further three matches Wednesday featuring two clashes between Argentine and Mexican opposition in Buenos Aires.
Lanus host Chivas of Guadalajara in Group 6, while in Group 8, San Lorenzo hosts San Luis and Peruvian club Universitario visits Libertad of Paraguay.
The heavy rains hit regions of Morocco that have been suffering from drought for at least six years
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