Difficult Year Ahead for Developing Asia

HONG KONG, CHINA - Economic growth in developing Asia will slow to 5.8% in 2009, down from a likely 6.9% this year and 9% in 2007, as the impact of the global financial crisis spreads to emerging markets, says a new report from the Asian Development Bank.

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Related article

ADB tweaks 2008 Asia growth forecast

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GDP Forecast (From World Bank)

Forecast Summary, 2008-2010
Annual percent change, unless indicated otherwise.

Regional detailed forecasts
Source:World Bank

Lessons from 1929 stock crash

Oct. 24 - Analysts say investors had better beware false rallies like the one that occurred after the 1929 stock market crash.

The Dow rallied 24 percent over the next five months following the stock market crash, only to turn south again. Stocks fell 89 percent from their peak. Fred Katayama reports from New York.

SOUNDBITES:
# Philip Roth, chief technical market analyst, Miller Tabak
# Sam Stovall, chief investment strategist, Standard & Poor's