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Asian markets were flatish Wednesday, with stocks swinging in and out of negative territory. But exporter shares fell as the U.S. and euro zone economies sputtered though investors found some value in companies dependent on domestic growth.
Asian stocks were weak Tuesday, after more trouble in the U.S. financial sector, including a ninth bank failure, reminded investors of the frail state of the global economy. But both Japan and Australia finished off their session lows.
Asian markets rebounded Monday from a two-year low as the drop in oil prices lifted exporter shares. Both Japan and Australia finished over 1% higher.
Asian stocks slipped to a two-year low Friday, falling for a fourth straight week, as a surge in oil prices to above $121 knocked the U.S. dollar and the spiraling financial crisis showed no signs of ending.
Asian markets fell Thursday on gloom about the ability of exporters to weather a widespread economic slowdown, while the U.S. dollar slipped as oil prices rose to above $116 a barrel and halted a rally in the currency.
Most Asian markets edged higher Wednesday, rebounding from a two-year low as Chinese shares surged on hopes for policies from Beijing to jumpstart growth, though many analysts say this is a long shot.
Asian markets fell to a two-year low Tuesday, led by exporter shares, on fears the U.S. government will have to bail out the top mortgage finance companies, further destabilizing the financial sector.
Asian markets were mostly softer Monday, with Chinese stocks sliding over 5 percent. But the weaker yen helped Japan close over 1% higher, with exporters supporting that market.
Australian investment firm Babcock & Brown Power flagged a review of its business on Monday and said it would take a $393 million writedown, knocking its shares down over 40 percent.
Asian markets were mixed Friday as investors struggled to factor in, what extent potential recessions in Britain, Europe and Japan would have on corporate Asia's bottom line.
Asian stocks were mixed Thursday in volatile trading with markets seesawing between the red and black. Japan closed weaker and Australia finished in the black though giving back some gains made earlier on in the session.
ASX, Asia-Pacific's second-largest listed stock exchange, posted a 2.7 % rise in second-half net profit, and joined its Hong Kong and Singapore rivals in predicting a challenging year ahead on weaker trading volumes and a drop in capital raisings.
Asian markets fell Wednesday, with regional shares outside of Japan hitting a 17-month low, on the growing risk of a sharp global economic slowdown. Japan and Australia both fell 2 percent.
Commonwealth Bank of Australia matched expectations for flat second-half earnings, and warned of a challenging year ahead due to volatile global markets and upward pressure on funding costs, sending its shares down over 2%.
Australia's CSL, the world's top maker of plasma products, agreed to buy U.S.-based Talecris Biotherapeutics Holdings for $3.1 billion, to further boost its presence in the plasma market.
Telstra, Australia's biggest phone company, missed expectations with a 14 percent rise in second-half profit on Wednesday, and forecast growth in the year ahead that was also belowanalysts' expectations.
Asian markets were mixed Tuesday with oil prices retreating for five of the last six days, as focus centered on the potential for further economic weakness, particularly after data showed Japan's wholesale inflation at the highest in 27 years.
With the exception of China, Asian markets rose sharply Monday as the U.S. dollar hit a six-month high against the euro and oil briefly slipped below $115 a barrel.
Australia's central bank on Monday said the economy looked to be slowing enough to significantly reduce inflation over time, providing growing scope to ease interest rates from 12-year highs.
Asian markets pulled both ways on Friday, as Taipei jumped over 2 percent while Shanghai skidded, with concerns about the health of domestic and global economies dominating investor sentiment.