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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.
Japan's core machinery orders fell 12.7 percent in February after an unusually strong previous month, in an expected decline that is unlikely to alter the view that the Bank of Japan will sit tight on interest rates for now.
Asian markets took a turn into negative territory while the U.S. dollar stayed weak Wednesday as worries resurfaced about the economy and a global financial crisis. Japan closed 1.1% lower.
The Bank of Japan left its interest rate target unchanged at 0.5 percent on Wednesday, as expected, in a unanimous vote.
Most Asian markets sagged Tuesday, led by financials as news of a possible capital injection at Washington Mutual failed to eliminate concerns about more bank writedowns.
Asian markets rose Monday, with resource companies benefiting from stronger metals and oil prices, while the dollar rose, shrugging off worse-than-expected U.S. job losses. But concerns about the impact of the credit crisis on the financial system lingered, driving banking shares lower. Japan closed over 1 percent higher.
Japan's government put forward acting central bank governor Masaaki Shirakawa on Monday to head the Bank of Japan permanently, finally finding a candidate the veto-wielding opposition is likely to back after weeks of deadlock.
The OECD stuck with a growth forecast for Japan this year of 1.6 percent, in a report issued on Monday, and repeated that the Bank of Japan should not raise interest rates until inflation is firmly on the rise