Shares of China Eastern Airlines, Cathay Pacific Airways and Air China nose-dived on Tuesday after Air China and Cathay said they would not proceed with a plan to buy a slice of China Eastern. .
Asian markets closed firmly higher Monday with Australia setting a new record close, though trading was light due to holidays in Japan, South Korea and Taiwan.
Cathay Pacific Airways is looking to invest in China Eastern Airlines, a move that could derail rival Singapore Airlines's deal to acquire a stake in the mainland carrier, according to newspaper reports.
Asian markets had a mixed end to the week as worries about U.S. inflation grew on the back of a persistently weak U.S. dollar. Japan closed lower but South Korea finished at a seven-week high despite spending most of the session in flat territory.
Greater China investors have much to celebrate. Despite the recent turmoil in financial markets, stocks in China and Hong Kong are still booking double- and triple-digit gains year-to-date. This week's A Fund Affair takes a look at a hedge fund that invests in Chinese companies listed across the region.
Beijing will cap a program allowing its citizens to invest in Hong Kong's stock market, regulators said on Friday, scaling back an earlier aggressive plan to open a gateway for its capital accounts.
Asian stocks were mixed in lackluster trade Thursday. Markets drifted in a narrow range in and out of positive territory. But Japan, South Korea and Australia managed to make some gains.
Asian markets rallied Wednesday after the U.S. Federal Reserve slashed two key interest rates -- the benchmark fed fund rate and the discount rate -- by 50 basis points each. Japan soared 3.7% and South Korea closed 3.5% higher.
Asian markets were mostly lower Tuesday as financial shares lost ground amid spreading turmoil in financial markets. Japan shed 2% while South Korea closed 1.77% lower.
Asian stocks finished mostly lower Monday, taking a breather after four straight weeks of gains. The Shanghai Composite Index closed 2% higher and South Korea ended a touch stronger after spending most of the day in negative territory. Australia finished weaker. A public holiday in Japan kept the yen subdued. Markets there were closed for a holiday and will reopen Tuesday.
Asian markets finished the week higher across the board, boosted by financial shares with Japan closing almost 2% higher. However caution ahead of U.S. retail sales data due later in the session kept the U.S. dollar under pressure.
Hong Kong and the mainland should develop one China market -- a single listing and trading platform covering Hong Kong, Shanghai and Shenzhen, a local newspaper quoted the Hong Kong bourse chief as saying.
Most of the Asian indexes closed in positive territory Thursday following a very choppy trading session, with South Korea closing almost 2% higher. Energy shares rallied as oil held near a record peak above $80 set overnight.
Asian markets finished mixed Wednesday with Tokyo stocks closing lower on news that Prime Minister Shinzo Abe had resigned.
Shares in port-to-telecoms conglomerate Hutchison Whampoa rose more than 8% on Wednesday and its bond spreads tightened after a British newspaper said the firm planned to sell its Italian 3G mobile operating arm, 3 Italia.
Asian markets found their footing and reversed losses to close mostly higher Tuesday, but China suffered heavy losses. Energy stocks rose after a surge in oil prices. Japan and South Korea closed stronger after spending most of the morning in negative territory.
Asian markets pared morning losses, but still closed broadly lower in the afternoon session Monday, with exporters hit hard on concerns the U.S. economy may be heading into a recession. Japan and South Korea both closed over 2% lower.
Bank of China wants only rich and experienced mainland residents to invest directly in Hong Kong, the bank's chairman said in an interview published on Monday.
It was a mixed end to the Asian trading week. Japan's Nikkei 225 Index closed lower as investors took profit from the previous session's gains. But traders mainly took a wait-and-see approach ahead of a key U.S. jobs report due Friday.
Asian stocks closed in broadly positive territory Thursday, with the exception of Hong Kong and Australia, despite U.S. housing data renewing fears over the strength of Asia's top export market.