Charles Li, CEO of Hong Kong Exchanges and Clearing, and Magnus Bocker, CEO of the Singapore Exchange, discuss their collaboration to promote the internationalization of the renminbi.» Read More
Asian stocks had a shaky performance Wednesday with markets drifting back and forth for most of the session, but ending mainly lower as credit worries and fears over the health of the U.S. economy lingered.
Asian markets closed mostly lower Tuesday, having drifted in and out of negative territory during volatile trading. Japan closed flat, but Chinese stocks ended 2.3 percent in the red. Gold and platinum hovered at or near record highs.
Asian stocks bled into the afternoon Monday, with Tokyo the hardest hit market, closing 4.5 percent lower, burdened by growing fears about a U.S. recession and more writedowns in the financial sector.
Asian markets were heavily soldoff Friday, with the exception of Chinese stocks, as the specter of a U.S. recession haunted Asian investors as the U.S. dollar hit a three-year lower against the yen and gold and oil prices struck all-time highs.
Asian markets ended mostly lower Thursday as worries about the sickly U.S. economy were exacerbated by a falling dollar, which could prop up U.S. firms at the expense of Asia's exporters.
Asian markets closed higher across the board Wednesday, marking a third straight session of gains. Hong Kong was the best performer, closing over 3 percent higher, and Japan ended over 1 percent up.
Asian stocks pulled back from an early rally to close broadly higher Tuesday. Japan ended weaker and South Korea closed flat. But Australia managed to hang on to its advance to finish in positive territory.
Asian markets rallied in the afternoon session Monday with financials stocks advancing on talks of a possible rescue plan for U.S. bond insurer Ambac. Japan surged 3 percent, but Shanghai shares slumped over 4 percent.
Asian markets closed lower Friday, with investors spooked by fresh evidence that the U.S. economy is in recession. Japan and South Korea both closed 1 percent lower.
CapitaLand, Southeast Asia's largest developer, posted a surprising 49 percent jump in fourth-quarter net profit on Friday, boosted by strong home sales in Singapore, China and Australia and a revaluation gain.
Most Asian markets made firm gains Thursday, as solid earnings and expectations of further U.S. interest rate cuts outweighed worries about inflation, even as oil hit a record high above $101 a barrel.
Asian markets closed sharply lower Wednesday with Japan losing over 3 percent lower and both Australia and South Korea ending around 2 percent down.
Asian stocks ended mostly in the green Tuesday as investors, sought undervalued bank shares and exporters that could gain from a modestly stronger U.S. dollar. Japan, South Korea and Australia all closed stronger.
Asian stocks closed mixed Monday, as investors shrugged off a rash of weak economic indicators to keep most markets afloat. Japan and South Korea closed just a touch higher, which the Hong Kong market fell.
Aerobatics are set to blaze the Singapore skies this week as exhibitors, tradesmen and the public gear themselves up for what promises to be an exciting Singapore Airshow 2008.
Asian stocks ended the week with a mixed session Friday, but off their earlier lows. Japan closed almost flat despite making sharp losses in the morning. South Korea finished just slightly lower.
DBS Group Holdings, Southeast Asia's biggest bank, posted an 18 percent drop in fourth-quarter profit, but still beat market expectations, as strong loan growth offset writedowns linked to the global credit turmoil.
Asian markets surged in the afternoon session, buoyed by a surprise increase in U.S. retail sales and unexpectedly strong growth figures for the Japanese economy. Both Tokyo and Seoul closed over 4 percent higher.
Singapore cut its economic growth forecast for 2008 on Thursday after the first quarterly contraction since 2003, citing worries about a U.S. recession, and said inflation would be higher than it thought earlier.
Asian markets received an early boost after billionaire investor Warren Buffett made an offer to take on $800 billion of U.S. municipal bond risk. But many of the Asian indexes gave back earlier gains to close mixed. Indian and Hong Kong stocks closed firmly higher, while China and Australia fell.