STEVE INSKEEP, host:
Now, the ripples from U.S. mortgage market troubles were felt across Asia. But the news from Asia this morning is positive. Some markets have made a tentative recovery and we have more from NPR's Louisa Lim in Shanghai.
LOUISA LIM: After a dismal finish last week, Asia's markets crept up today. Japan's Nikkei ended up in 0.2 percent. Hong Kong's Hang Seng put on almost 0.4 percent, and Korea's Kospi finished up 1.1 percent. But Tai Hui from Standard Chartered in Hong Kong says it's too early to relax.
Mr. TAI HUI (Global Research Team, Standard Chartered Bank): For the time being, the Asian markets are going through a technical rebound. You know, we do believe that we have not yet seen the end to the subprime concerns. You know, there could still be more news of either funds losing significant amount of money or some banks having credit issues in the near term. So I think, you know, Asian markets are not out of the woods yet.
LIM: Today, the Bank of Japan injected another five billion U.S. dollars into the banking system to calm fears of a credit squeeze.
Meanwhile, the extent of Asian exposure to the dodgy subprime market is beginning to emerge. A survey by UBS estimates Japan's large banks could have invested as much as $8 billion in the troubled sector, while South Korea says its exposure totals around $850 million. But some caution other indirect exposure has yet to emerge.
Louisa Lim, NPR News, Shanghai.
NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.