Coordinated

Asian stocks rose and the yen slipped on Thursday after central banks from China to Europe and the United States cut interest rates to support the global economy, though investors remained fearful with credit markets still nearly frozen.

In an unprecedented display of international coordination, the Federal Reserve, the European Central Bank along with several others including China's central bank on Wednesday executed an emergency rate cut, hours after equity markets plunged in Asia and Japan's Nikkei chalked up its biggest decline since the 1987 crash.