By Marcus Leach

Following Wednesday's announcement that central banks are to join forces enhance their capacity to provide liquidity support to the global financial system, global markets have jumped.

Since the announcement Asian markets have all seen gains, with Japan's Nikkei index closing up 1.9%, while South Korea's Kospi ended the day 3.7% higher. Hong Kong's Hang Seng was up 5.7%.

Such was the impact of the news that Wall Street's Dow Jones index saw its biggest gain since March 2009, rising 4.2%. In Europe, Germany's Dax index closed 5% higher, while France's Cac 40 jumped 4.2% and the UK's FTSE 100 rose 3%.

The news will help ease fears that a lack of funds were beginning to impact global growth. And following the bank's announcement China also committed to freeing extra money up for its banks to lend.

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