Adrian Mowat, MD, Chief Asian & Emerging Market Equity Strategist at J.P. Morgan, explains why he is worried about South Korea's construction and automobile sectors.» Read More
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.
Former cabinet minister Yasuo Fukuda appears a shoo-in to become Japan's next prime minister after a poll showed on Tuesday that most rank-and-file supporters of the ruling party -- like lawmakers -- backed him for the job.
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.
Yasuo Fukuda is the runaway favorite to become Japan's next prime minister, according to a newspaper poll of ruling party lawmakers who will vote for a new leader on Sunday.
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.
Momentum grew in Japan's ruling party on Friday to back 71-year-old lawmaker Yasuo Fukuda, known for his pro-Asian diplomacy, as successor to Prime Minister Shinzo Abe after his shock resignation.
Like the Ansari X Prize, which was claimed in 2004 by aircraft designer Burt Rutan and financier Paul Allen for a pair of flights by SpaceShipOne, the Google Lunar X Prize is open to private industry and non-government entities worldwide.
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.
Japanese Prime Minister Shinzo Abe was hospitalized Thursday for psychological stress and exhaustion a day after announcing his resignation, his doctors said, amid speculation health troubles prompted him to step down.
Stocks are under pressure ahead of the opening as the dollar touches new lows, oil edges higher and Texas Instruments earning forecast disappoints. For now, stock futures are lower and European markets are mixed.
Embattled Japanese Prime Minister Shinzo Abe said on Wednesday he would resign in hope of making it easier to extend a naval mission in support of U.S.-led operations in Afghanistan, sending shockwaves through Japan.
Asian markets finished mixed Wednesday with Tokyo stocks closing lower on news that Prime Minister Shinzo Abe had resigned.
Japan's core private-sector machinery orders jumped in July, but not enough to ease investors' concerns that the turmoil in global markets may yet unsettle the Japanese economy. Japan's current account surplus hit a record high for the month of July, as a rising income surplus offset shrinkage in the trade surplus.
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.
Japan's core private-sector machinery orders jumped in July, but not enough to ease investors' concerns that the turmoil in global markets may yet unsettle the Japanese economy.
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.
Prime Minister Shinzo Abe faces the toughest battle of his political life in a parliament session that opens on Monday after staking his job on extending Japan's naval mission in support of U.S.-led operations in Afghanistan.
Japan's economy contracted more than expected in the second quarter, revised data showed on Monday, reinforcing views that the Bank of Japan is unlikely to raise interest rates next week amid a global credit squeeze and market fall-out.
President George W. Bush prepared for an Asia-Pacific summit in Australia, saying on Friday the United States would consider a peace treaty with North Korea if it gave up nuclear arms.
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.