Asia’s largest financial markets were closed for a major holiday though fall in dollar results decline in the half dozen stock markets in the region that were open along with decline in futures contracts on American stocks.

On Monday investors those who were on their benches were concerned regarding the news in connection with Lehman Brothers announcements that it would file for Chapter 11 bankruptcy and Merrill Lynch agreed to sell itself of Bank of America. As a result trading was very light and highly unstable in stock, bond and currency markets around the region with many investors on holiday.

In Singapore trading dollar knock down harshly opposed to the euro, yen and British pound in currency trading.

On Monday morning, Standard & Poor’s 500 Index gave the most recent sign that American stocks could drop sharply at the opening subsequent to Lehman’s announcement as it plunged 3.7 percent in the morning. Since the interest rate on two-year Treasuries went down by a third of a percent Treasury prices recovered in thin trading.

In recent times investors are confident that the Federal Reserve would cut its interest rates additionally in an effort to help poor American financial institutions and the American economy. This view point gave a significant boost in the Treasuries since January as investors sought the safety of American government debt.