Bangkok - Thai shares shed 2.86 per cent of their value on Monday as investors remained uncertain about the global outlook despite the US's proposed 
700-billion-dollar bailout. 

New Delhi  - Indian equities extended their losses from last week as the benchmark Sensex fell more than 3 per cent Monday, tracking weakness in global markets despite an agreement on a 700-billion-dollar bailout plan for US financial institutions.

The 30-share-sensitive index fell below 13,000 and was trading at 12,657.76 at 12:30 pm (0700 GMT), down 444.42 points, or 3.39 per cent.

Similarly, the broader S&P CNX Nifty of the National Stock Exchange was trading at 3,863 for a midday loss of 3.07 per cent.

Hong Kong - Hong Kong officials Monday welcomed the bailout deal for the US economy but questioned whether the 700 billion US dollars in the package will be enough to revive global money markets.

Hong Kong's financial secretary John Tsang said he hoped the rescue package could be implemented quickly so that it would stabilize not only the US economy but the global financial system.

Hong Kong Monetary Authority chief executive Joseph Yam said the plan would reduce the danger of further failures of financial institutions in the US.

Sydney - The 700-billion-US-dollar bailout package being thrashed out in the US Congress is more likely to reinforce rather than curb the risky financial dealings of investment bankers, Australia's stock exchange head said Sunday.

Maurice Newman, the chairman of the Australian Securities Exchange (ASX), warned that the government paying top-dollar for worthless assets would worsen the predicament of Wall Street.

"The moral hazards which are being created in the United States right now - the idea that more oversight, more regulation, the automatic default whenever there's a problem will get you out of trouble - will only make the problem worse," Newman told local television.

Washington -

Washington - US legislators worked behind closed doors through Saturday seeking agreement on a US finance rescue plan as a weakened US President George W Bush wrestled with a revolt from within his own Republican ranks on a tense Capitol Hill.

House of Representative Republicans continued to block approval of the mammoth 700-billion-dollar liferaft for the mortgage-debt-gone- bad crisis that has drained credit lines dry and is spreading financial troubles abroad.