Asian markets up on central banks' move to help lending

Asian stocks have gained after many of the world's biggest central banks unveiled a plan to stimulate lending. 

The US Federal Reserve, the European Central Bank, and the central banks of the UK, Canada, Japan and Switzerland will take coordinated action from 5 December.

In a separate move, China also said it would free up money for its banks to lend.

There have been growing fears that a lack of funds will hurt global growth.

"We are clearly seeing some very big stresses in the global banking system, and they wanted to do a pre-emptive strike," said Boris Schlossberg of GFT, a currency trading company.     Read More