Administrators say it might be years before investors who lost money in the stockbroking firm Opes Prime receive all their entitlements.

It has been an indecisive session overnight on American equity markets.

A recession warning from the head of the US Federal Reserve has seen yesterday's strong gains trimmed back on Wall Street.

Stock prices have roared ahead on Wall Street, with US investors thinking they can see light at the end of the credit crunch tunnel.

"Today, Secretary of the Treasury Hank Paulson has offered a balanced and thoughtful approach to modernizing our financial system. Secretary Paulson rightly recognizes that we can help mitigate future market turmoil with smarter regulation, but that we must resist the growing political pressure to rush headlong into ill-considered regulations that would stifle innovation, drive jobs overseas, and hurt America's economic health.

Hong Kong's benchmark stock index completed its biggest quarterly drop in more than six years on concern credit market losses will widen.

The Chinese government will make efforts to promote the stable and sound development of its stock market, Chinese Premier Wen Jiabao said in Vientiane Sunday.

A strong financial system is vitally important - not for Wall Street, not for bankers, but for working Americans. When our markets work, people throughout our economy benefit – Americans seeking to buy a car or buy a home, families borrowing to pay for college, innovators borrowing on the strength of a good idea for a new product or technology, and businesses financing investments that create new jobs. And when our financial system is under stress, millions of working Americans bear the consequences.

Investigations are continuing into the collapse of Melbourne stockbroking firm Opes Prime.

The Australian share market has remained virtually unchanged despite losses in the banking and resources sectors.

Treasury Secretary Henry Paulson proposes a major overhaul of how the federal government oversees the economy.

The Australian sharemarket is bracing for more trauma today after the spectacular unravelling of Melbourne stockbroking firm Opes Prime.