Asia Stocks Cut Gains, Policy-makers To Test The Determination 

Asian stocks trim early gains Wednesday as investors were skeptical about whether European leaders go far enough efforts to stop the miseries of the region's sovereign debt triggered a banking crisis in itself.

Also raised doubts about the sustainability of the largest U.S. stocks Tuesday after the Federal Reserve, Ben Bernanke, has promised more if needed economic stimulus, easing concerns about damage to the U.S. economy due to the possible Greek default.

"The market in Asia for the test solution can provide a stimulus Bernanke," said Jonathan Barratt, Managing Commodity brokerage services.

"What the market wants to see something concrete, and it is to lose faith in what Bernanke has to offer."

In credit markets, which have been showing increasing signs of strain last week, the iTraxx Asia ex-Japan investment grade index was stable, after a surge earlier this week.

In the latest blow to be distributed to investor confidence in the insoluble crisis of Europe, Moody's lowered the debt of Italy by three notches on Tuesday, said he saw a "significant increase" in risk financing for countries of the euro.

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