Hong Kong - The benchmark Hang Seng Index to fall 5.15 per cent on Wednesday to close at 14,266.6 points, or 774.57 points down on the day.

Turnover was 54 billion Hong Kong dollars (6.92 billion dollars).

The index crashed 6.5 per cent to 14,038.41 points, its lowest level since July 2005, before recovering slightly before the close.

Concerns about corporate profits came after several companies, including China's Huaneng Power International, Jiangxi Copper and Singamas Container (Holdings) warned they faced tougher times ahead.

Human resource services firm Manpower Inc. has acquired 100% stake in its Indian subsidiary - Manpower Services India Pvt. Ltd from ABC Consultants for an undisclosed amount.

Pantaloon Retail India, a Future Group firm, has reported a 22 per cent rise in the net profit at Rs 36.18 crore for the second quarter ended September 30, 2008, as compared to Rs 29.69 crore in th

Republican Rep. Robin Hayes, who is locked in a closely contested House race in North Carolina, has also been criticized after telling a crowd Saturday that “liberals hate real Americans that work and accomplish and achieve and believe in God.”

At first, Hayes denied making the remarks, but he was forced to acknowledge them after an audiotape of the speech was produced. Clarifying his comment, Hayes said: “I actually was trying to work to keep the crowd as respectful as possible, so this is definitely not what I intended.”

Damascus - Damascus has called on Europe to be more politically engaged in the Middle East and to play a role that is parallel or complementary to the US role.

"The Europeans are able to play a more effective role in the Middle East and to make their political weight equal to their economic one," the official Syrian mouthpiece, Tishrin newspaper, wrote in its editorial on Wednesday.

More lows late New York; stops drive trade into next technical support. Option barriers reported on the dip. Official interest noted traders say around the 1.3250 area on the break with stops driving the dip lower.

OK to look to the buy side now; rotation off the lows to hold above 1.3350 suggests a near-term bottom. Rate is an absolute screaming buy in my view—I can't see further weakness being ignored by the buyers. Oil two-way spills over into pricing but rate firm despite lower oil. Traders note stops building above the market along with offers.