A bounce in the U.S. dollar lifted some Asian stock markets on Friday, while crude oil sank further from its recent $120 a barrel record, dragging energy firms down but boosting airline counters. Japan finished at a two-month high.
Asian stocks were mixed in the afternoon session Thursday with Japan and Australia closing lower. But the Shanghai market took centerstage, surging as much as 9.5 percent at one point after a stamp duty tax cut gave flagging Chinese stocks a boost.
Mobile phone maker Sony Ericsson posted sharply lower profits on Wednesday as a slowdown in consumer spending hit its business, but earnings were at the high end of the firm's range and exceeded market expectations.
Asian markets were stronger Wednesday, shrugging off the burden of near $120-a-barrel oil and a record high euro, to continue a rally that has recovered all the ground lost last month. Shanghai surged over 4 percent, while Australia gained 1.6 percent.
Japan's exports in March rose less than expected from a year earlier, suggesting that companies are starting to feel the pinch from a slowing U.S. economy.
There is a fondness and attraction to Cadillac, Buick and Chevrolet that is helping GM make headway in China.
Asian markets came under pressure on Tuesday after U.S. stocks pulled in a mixed performance. Investors sold financials following weak earnings from Bank of America.
Talk about coming of age. The Beijing Auto Show and China's auto market are making a statement this week. It's loud and clear: "We are world players!" In fact, it brings up the question about whether this show and the Chinese market are bigger than the Detroit Show and U.S. Market?
Asian stocks rose to their highest level in seven weeks on Monday, as investors cheered upbeat earnings from U.S. bellwethers which triggered a rally in U.S. stocks last Friday.
Asian markets eked out some gains Friday. Stocks spent the better part of the session dipping below and above the line. Japan and South Korea pulled ahead at the close, finishing higher, but China and Australia closed weaker.
Bank of Japan Governor Masaaki Shirakawa said on Friday that the economy was slowing due to rising energy and raw materials costs, but he maintained that it would likely pick up gradually.
Asian stock indexes made firm gains Thursday, with the exception of the Shanghai Composite Index, boosted by financial and technology stocks with Japan, South Korea and Australia all closing stronger.
Asian markets moved forward Wednesday, with high-tech exporters buoyed by a reassuring outlook from industry leader Intel and energy shares underpinned by record high oil prices. Japan and Australia both closed over 1 percent higher
Asian markets wavered between losses and gains Tuesday, but closed broadly higher, as oil and gold prices gained. The U.S. dollar struggled to attract buyers due to signs of a weak earnings season for banks, which could expose yet more subprime losses and punish stocks worldwide.
Asian markets dropped sharply Monday as a nasty earnings surprise from General Electric and a 26-year low in U.S. consumer sentiment drowned out the Group of Seven nation's support for the U.S. dollar. Japan shed 3% while China was down over 5%.
When I heard that Toyota is finally getting into the sports car business two thoughts jumped into my head. First: it's about time. Second: those who accuse me of fawning all over the Japanese automaker will have a field day.
Asian stocks rose Friday, with Japan's Nikkei closing almost 3 percent higher, led by chipmakers on expectations a slump in the sector may soon end, while oil prices retreated after testing a record high above $112 a barrel.
Japanese annual wholesale inflation hit a 27-year high in March, squeezing businesses as they struggle to pass on higher prices for fuel and other raw materials to their customers.
Takeda Pharmaceutical said it would buy U.S. firm Millennium Pharmaceuticals for $8.8 billion to boost its cancer drug business, in the biggest overseas acquisition by a Japanese drug maker.
Asian markets closed mixed Thursday while the U.S. dollar remained weak on concerns about the impact of a credit crisis on the global economy and as record oil prices fuel inflation worries.