End of Month Stock Roundup

• Following the Federal Reserve slashing of interest rates by a half-percentage point U.S. stocks showed gains on Wednesday, sending indexes up more than 1 percent -- boosted by hopes that the economy would avert a recession.
• New Zealand's sharemarket started out well yesterday but ended up negatively.
• Despite a positive start to the day, Australian shares started a decline at lunch time and continued to edge lower to the end of the session yesterday.
  
• Ahead of the US Federal Reserve interest rate decision Japanese shares lost momentum amid gloomy earnings reports.