Don Voelte, CEO at Seven Group Holdings, explains how the firm is positioning itself amidst challenging trading conditions in the mining and industrial services sector.» Read More
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.
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.