Asian stock markets rebound from early lows, Europe opens higher

HONG KONG - European markets opened higher today after stocks in Asia turned in a mixed performance.

Most markets in Asia rebounded from early lows despite a grim profit forecast from Toyota and sluggish U.S. economic data.

Many of Asia's bourses showed surprising resilience, notably in Hong Kong, South Korea and Singapore, given yesterday's drop on Wall Street. Lower-priced shares attracted buyers and lending markets showed more signs of mending.
In Tokyo, the Nikkei 225 stock average pared its early 7 percent loss to close down 316.14 points, or 3.6 percent.

Early in Europe, benchmarks in Germany, France and Britain were up 1 percent or more in early trading.

Analysts say markets are likely to see more volatility as long as bad news forces investors to readjust their expectations about the scope of a recession.
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