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Asian markets have reacted positively to efforts by world leaders to end the recent financial turmoil. Shares in Australia, Hong Kong, China, South Korea, Singapore and India all rose although Taiwan's stock market lost ground.
Major central banks also made extra funds available and said they would take "whatever measures necessary" to stem the crisis. EU leaders said on Sunday no big bank would be be allowed to fail. Japan's stock market is closed for a public holiday. European markets are expected to open higher.
Governments around the world had been racing to throw financial institutions a lifeline before the major markets re-opened. At the weekend, finance ministers from the main industrialised nations - the G7 - approved a five-point plan to unfreeze credit markets, and a number of countries announced individual rescue packages. Australia's benchmark index ended 5.6% higher and South Korea's main Kospi index finished up 3.8%. By 0645 GMT, Hong Kong shares were up 3.2% and Shanghai's benchmark index moved into positive territory after falling earlier. But Taiwan stocks fell 2.15%.
Investors worried
Australia's Prime Minister Kevin Rudd said his government would guarantee all bank deposits, however large, for the next three years.
Correspondents say that type of move raised confidence as markets opened, and Australia's central bank on Monday pumped $2bn into the banking system to facilitate improve lending between banks. By 0645 GMT, Sydney's benchmark index had risen 5%, while both Hong Kong's Hang Seng index and South Korea's Composite Stock Price Index were up by around 3%. But after a volatile morning's trading, Shanghai's main market was trading 2% lower, while Taiwan's benchmark index had lost more than 3%. Japan's markets were closed for a public holiday.
The BBC's Quentin Sommerville in Beijing says Asian investors remain worried that even if Europe and the US resolve their banking crises, their underlying economies are slowing down, which is bad news for Asian exports.
UK cash injection
The European plan was confirmed after an emergency Paris summit of the 15 eurozone leaders on Sunday.
Under the eurozone plan, members pledged to guarantee loans between banks until the end of 2009, and said they would put money into them by buying preference shares.
French President Nicolas Sarkozy - whose country currently holds the rotating presidency of the EU - said the group was taking unprecedented steps. The plan was similar to one announced by Britain last week, and although the UK is not a member of the eurozone club, British Prime Minister Gordon Brown attended parts of Sunday's talks.
Governments in Germany, France, Italy and elsewhere are due to present their individual plans later, within the agreed eurozone framework, said Mr Sarkozy.
"The crisis has over the past few days entered into a phase that makes it intolerable to opt for procrastination and a go-it-alone approach," he said. Mr Sarkozy said the plan addressed all aspects of the financial crisis, but he did not say how much it would cost.
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