Customers spark run on Asian bank
* Story Highlights
* Nervous customers swarm Bank of East Asia offices in Hong Kong and Singapore
* Hong Kong's central bank responds by injecting $500 million into the market
* Tycoon Li Ka-shing started buying the company's stock
HONG KONG (AP) -- Hundreds of nervous customers have swarmed Bank of East Asia offices in Hong Kong and Singapore, the second day of Asia's first major bank run since the global financial crisis erupted last year.
Hong Kong's de facto central bank, meanwhile, responded by injecting $500 million into the market as a way of shoring up the territory's banking system.
The Bank of East Asia received another boost when billionaire tycoon Li Ka-shing started buying the company's stock after it plunged Wednesday -- a huge vote of confidence from the territory's richest man. Shares rebounded Thursday.
The moves came after thousands of customers descended on BEA offices across Hong Kong on Wednesday to demand their deposits amid unconfirmed rumors questioning the mid-sized lender's stability.
Full Version: CNN: Customers spark run on Asian bank
Common Ground Common Sense > Issues that Affect Our Lives > Job Market, Fiscal, and Economic Policies > Job Market, Fiscal, & Economic Issues Archive
BURN IT DOWN
BURN IT DOWN
BURN IT DOWN
BURN IT DOWN
BURN IT DOWN
The public is finally caring...well, it's about time (it's about space, it's about people all over the place)
Where is Guy Fawkes when ya need him?
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