Asian markets extend global rally as banking sector fears ease

ASIAN markets rose today, tracking New York and European equities, as traders welcomed multi-billion-dollar shows of support for troubled banks aimed at soothing concerns about contagion in the sector.

A rollercoaster week was on course to end on a positive note after several Wall Street titans including JP Morgan, Bank of America and Citigroup stumped up US$30 (RM150) billion to deposit into troubled First Republic.