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Asian market rose for a fifth day Thursday, helped by hopes that policymakers' efforts will ultimately prevail after a surprise and aggressive rate cut from China, though U.S. data ominously reflected a deep recession.
Stocks in Japan and Australia fell Wednesday after a report showed the U.S. economy shrank by the most since 2001, underscoring sharply slowing global demand, while South Korean shares were boosted by steelmakers after BHP Billiton killed its bid for Rio Tinto.
Asian markets rose Tuesday and so-called safe haven assets such as bonds fell after the U.S. government rescued banking giant Citigroup to prevent further damage to the ailing global financial system.
Asian markets were mostly lower Monday, with bank stocks leading the drop, and so-called safe-haven assets like the yen gained as investors digested the latest news on U.S. measures to prop up Citigroup.
Asian markets experienced a large turnaround Friday, after hitting five-year lows in the morning session. Stocks bounced into the black on rumors that China would adjust interest rates as well as short covering.
Asian markets further weakened Wednesday while the yen rose, with risk-averse investors fretting about the deepening damage to corporate profits and consumer spending despite a late rally on Wall Street.
Asian markets fell like dominoes Thursday after U.S. stocks hit their lowest in more than five years. The rout was especially pronounced in Japan, where the Nikkei lost almost 7%.
These video clips are from CNBC analyst Paul Kedrosky who is in Malaysia for Global Entrepreneurship Week.
Asian markets fell Tuesday after Citigroup cut 52,000 jobs in a dramatic move to save itself and downbeat policymaker comments reflected worsening economic conditions that will unlikely improve until well into 2009.
Asian markets wavered Monday as hopes for substantial global financial policy changes faded after a weekend meeting of world leaders failed to produce concrete measures, causing investors to continue to seek safety in U.S. dollars.
Asian shares rallied and oil held on to gains Friday as this week's sharp losses were seen as excessive even as signals continued to flash 'danger' for the global economy ahead of a G20 meeting this weekend..
Asian markets and commodities retreated Tuesday while the yen pushed higher as a souring economic outlook took some of the wind out of investor hopes sparked by China's stimulus plan.
Asian stocks and commodity prices climbed Monday after China unveiled a nearly $600 billion economic stimulus plan, one of many measures countries are undertaking to limit the economic fallout from the financial crisis.
Asian stocks closed mixed after a weaker open, as layoffs and corporate profit warnings piled up in the face of a rapidly slowing global economy. But South Korea's KOSPI rebounded after the country's central bank slashed interest rates by 25 basis points.
Asian stocks fell sharply with Japan losing 6.5% and South Korea down 7.5% Thursday as more evidence that the U.S. economy is shrinking made investors brace for a potentially deep and lasting global recession.
Asian shares hit a three-week high Wednesday and the U.S. dollar extended gains after Barack Obama became the next U.S. president, ending uncertainty about who will lead the world's largest economy in the midst of great financial peril.
Japan's Nikkei index closed 6% Tuesday, as exporters gained on the yen's recent weakness, though other markets were down after reports pointed to a shriveling U.S. economy ahead of the presidential election.
Asian stocks rose for a fifth straight day Monday on hopes policy efforts so far to dampen the impact of the financial crisis would ultimately take hold, though data still painted an ugly picture of the global economy.
Most Asian markets fell Friday after the Bank of Japan's less-than-expected rate cut halted a powerful three-day rally, sending safer havens such as regional bonds and the yen higher.
Asian markets soared Thursday with Japan and South Korea making double digit gains on international efforts to provide liquidity to emerging markets and global prospects of lower borrowing costs.