Stocks headed higher on Wall Street and the big European exchanges as investors evaluated the latest government aid to Citigroup.

By mid-morning most of the Asian stock exchanges saw modest losses.

HSBC announced that it would cut 500 jobs in Asia. And Citigroup’s roughly 50,000 employees in the were faced with the reality that some of job cuts announced Monday could hit them.

HSBC announced that it would cut 500 jobs in Asia. And Citigroup’s roughly 50,000 employees in the were faced with the reality that some of job cuts announced Monday could hit them.

HSBC announced that it would cut 500 jobs in Asia. And Citigroup’s roughly 50,000 employees in the were faced with the reality that some of job cuts announced Monday could hit them.

HSBC announced that it would cut 500 jobs in Asia. And Citigroup’s roughly 50,000 employees in the were faced with the reality that some of job cuts announced Monday could hit them.

The layoffs, 90 percent of which will be in Hong Kong, is a further indication that the Asian financial community is being affected by the global financial crisis.

Lacking the immediacy of the crisis of 1997, the twists and turns of the financial turmoil in the West have been received here like news of a plague several valleys away.

Economic jitters returned to Wall Street as American markets shaved off early gains and headed into negative territory.

Stocks on Wall Street moved higher, joining those in Europe and Asia, a day after the Chinese government announced an economic stimulus plan.