Swiss banking giant UBS is being sued in Hong Kong for allegedly duping a 77-year-old woman into buying highly risky derivative investments that cost her nearly $26 million in losses.
Asia markets closed mostly higher Tuesday after racking up solid gains in recent sessions. Upbeat data on U.S. new home sales lifted confidence on Wall Street and in Asia, but Japan markets slipped marginally to break their nine-day winning streak.
Asian stocks rose across the board on positive earnings momentum Monday, helped by a solid run on Wall Street which saw the Dow cap its best two-week performance since 2000.
Asian markets lost steam on Tuesday to come off their early highs following solid gains on the U.S. market and confirmation that CIT Group had secured $3 billion in financing.
Asian stocks rallied to their highest levels this year on Monday, fueled by Wall Street's best week in four months and upbeat sentiment toward U.S. earnings in the second quarter.
Most Asian markets extended gains Friday as key U.S. earnings reports beat expectations, fueling hopes that the global recession is receding, but deadly explosions at two Jakarta hotels weighed on Indonesia stocks and the rupiah.
Asian markets jumped Thursday, buoyed by strong U.S. earnings and global recovery hopes after China's economy grew faster than forecast in the second quarter.
Asian markets extended gains Wednesday as blockbuster results from Intel seemed to augur well for the U.S. earnings season and for consumer demand globally. Hong Kong's Hang Seng Index also managed to breach the 18,000 level.
Asian stocks bounced Tuesday, extending gains as a rally in U.S. financial shares helped Japan break a 10-session losing streak, while also reversing a little of the recent safe-haven rush into the yen.
Japan's Nikkei fell for a ninth straight session Monday as concerns about company earnings outlooks weighed on Asian stocks, while oil languished near a six-week low as faith in a rapid economic recovery faded.
Uncertainty on earnings and economic recovery prospects saw Japanese shares finish at seven-week lows Friday, while prices for commodities such as oil and copper looked to build a floor after recent declines.
Third Avenue Management is betting heavily on investments in Hong Kong according to President and CEO David Barse. Forty percent of the firm's main fund are located in Hong Kong companies because some of the best and least known blue chips are there.
Asian markets were mostly lower Thursday with Japanese stocks tumbling after the yen spiked to a five-month high against the dollar, with investors seeking to trim riskier bets amid growing concerns about the health of the global economy.
Japan's Nikkei 225 Average and oil prices hit six-week lows Wednesday as investors pulled funds out of bets on the global economy's recovery and favored safe havens, such as the U.S. dollar and government bonds.
Asian markets were mixed Tuesday as stocks struggled after a slide the previous day, while the yen held gains against higher-yielding currencies as investors doubt the speed of the global economy's recovery.
Asian markets got off to a hesitant start Monday as investor doubts on the staying power of a global recovery kept Asian stocks soggy and currencies subdued ahead of a much-expanded Group of Eight meeting this week.
Asian markets retreated Friday and the greenback edged up after a disappointingly big drop in U.S. employment prompted investors to pull back from commodities, resource-linked shares and higher-yielding currencies.
Asian stocks struggled Thursday ahead of the latest U.S. payrolls report, while the U.S. dollar remained near a three-week low against the euro, sensitive to lingering doubts about its reserve status.
Asian markets struggled to gain ground Wednesday as economic data showed the process of turnaround to recovery was likely to be a slow grind, and the greenback capitalized on that more cautious sentiment.
Asian markets and the Australian dollar rose Tuesday — the last day of the second quarter —as investors kept adding to bets global economic activity is rebounding, having driven Chinese shares to the highest in a year.