The 8th Extreme Sailing series held the last leg of its world tour in Sydney last week. CNBC's Matthew Taylor got a taste of the action up close and personal.» Read More
Major Asian markets were lower across the board Friday, with bank stocks hit especially hard, as more bad news out of the U.S. financial sector exacerbated worries about banks.
Major Asian markets put on a strong showing on Wednesday, tracking a Wall Street rally that came on the heels of the U.S. Federal Reserve's decision to leave interest rates unchanged.
Asian markets extended Monday's losses amid sharp falls in commodities and deepening fears of a weakening global economy.
Private equity group TPG plans to study Asciano's full-year results on Wednesday before deciding what to do about its A$2.9 billion ($2.7 billion) takeover approach, which the Australian port and rail operator has rebuffed.
Asian markets fell Monday as a rebound in oil prices to above $126 revived inflation concerns at a time when major economies such as the U.S. and Japan are already seen headed for tough times. Japan lost 1.2% while South Korea fell almost 2%.
Asciano, Australia's biggest port and rail operator, said on Monday it had received an unsolicited bid worth around $2.7 billion from private equity, sending its share price up as much as 17 percent.
Asian markets extended losses in the afternoon session Friday after disappointing U.S. economic data revived concerns about a recession in the world's top economy and bearish comments from former Fed chairman Alan Greenspan sank Wall Street.
Manufacturing in Australia slowed in July to its lowest level since late 2005 and new orders dropped as higher interest rates and the global credit squeeze continued to crimp activity, a private survey showed on Friday.
Asian stocks were mostly higher Thursday, though markets pared back gains as investors weighed central bank support for the financial sector against continued uncertainty about growth and the worry that loose monetary policy could fuel inflation further out.
Australian retail sales took their biggest fall in six years in June, stirring fears the economy was slowing far more rapidly than policy-makers had planned and fanning talk of early cuts in interest rates.
Asian markets rallied Wednesday as investors joined Wall Street's optimism that the worst news from U.S. banks might be over and took heart from a strengthening dollar and falling oil prices. Japan and Australia both closed higher.
Asian stocks tumbled Tuesday, after Merrill Lynch, the third-largest U.S. investment bank, said it would take a $5.7 billion write down related to bad debt, draining confidence in the unstable financial sector. Japan and Australia both fell 1.5%.
Asian markets were mostly higher Monday as financial sector uncertainty lingered ahead of a slew of company earnings. Exporters advanced on the back of a stronger U.S. dollar which rose to a one-month high.
Asian markets were sharply lower Friday, ending a four-day rally, after bleak U.S. economic data weighed on financials, while a drop in the U.S. dollar against the yen hit exporters such as Toyota Motor.
National Australia Bank, the nation's top lender, booked another A$830 million ($798 million) in losses from its exposure to U.S. mortgages, sending its shares down as much as 13 percent.
Oil prices fell to a seven-week low below $125 a barrel Thursday as U.S. energy demand was seen reaching a tipping point, sending investors back into Asian stocks for the fourth consecutive day. Both Japan and South Korea closed 2% higher.
Asian markets strengthened Wednesday, as a drop in oil prices boosted cost-sensitive transport and consumer stocks, while a rise in the U.S. dollar lifted exporters. Both South Korea and Australia climbed 2 percent.
Core inflation in Australia accelerated to its fastest annual pace in 17 years last quarter as the cost of fuel, financing and rents all climbed, suggesting interest rates would have to stay high for some time to come.