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Regional stocks jump on central banks' response China, Taiwan, Hong Kong cut rates; Seoul, Singapore, Fed agree to swaps By V. Phani Kumar, MarketWatch Last update: 12:46 a.m. EDT Oct. 30, 2008 HONG KONG (MarketWatch) -- Asian markets surged Thursday as investors went on a buying spree after central banks responded strongly to slowing economic growth and turmoil in financial markets by reducing interest rates or boosting liquidity of U.S. dollars. South Korean stocks rocketed and Singaporean shares extended gains into a third straight session after their central banks opened a swap facility with the U.S. Federal Reserve that will...

(3rd LD) S. Korea, U.S. to sign currency swap contract: sources SEOUL, Oct. 29 (Yonhap) -- South Korea will likely sign a currency swap contract soon with the United States in a bid to ease a dollar-funding shortage amid deepening global financial turmoil, multiple finance ministry sources said Wednesday. The final decision will be announced later on Wednesday or early Thursday (Seoul time) by the U.S. Federal Reserve Board when it meets to decide on its key interest rates, a high-ranking official said on condition of anonymity, saying he is "optimistic" about the results. He declined to elaborate. Details on...