Kelvin Blacklock, CIO at Eastspring Investments says the markets that have moved up recently are those that have seen strong earnings growth. He says these defensive markets are looking expensive while the cyclicals appear cheap.
Shanghai stocks suffered the most severe losses in widespread stock declines in Asia Tuesday, as investors returned after a long weekend to a sea of red. Ongoing credit worries and concerns about the U.S. economy continued to keep investors wary.
Malaysian Prime Minister Abdullah Ahmad Badawi, trying to assuage anger over the steepest hike in fuel prices in years, said on Monday the administration will announce more measures to ease the burden on consumers.
Asian stocks came under selling pressure Monday, after Wall Street slumped on Friday, as oil spiked $11 and renewed fears of stagflation in the world's largest economy gripped the markets
Malaysian Prime Minister Abdullah Ahmad Badawi, trying to assuage anger over the steepest hike in fuel prices in years, said on Monday the administration will announce more measures to ease the burden on consumers.
Asian markets were firmer but off their highs Friday, lifted by energy firms following a jump in oil prices. Both Japanese and Australian markets gained over 1% .
India and Malaysia raised retail fuel prices, joining a growing number of Asian nations no longer able to afford big subsidies in the face of record-breaking oil prices.
Malaysia will scrap fuel price controls in August and allow pump prices to rise in line with market rates as part of plans to cut the government's burgeoning subsidy bill, the domestic trade minister said on Tuesday.
Malaysia's plan for a showpiece economic zone in its south is in doubt because of the uncertain fate of the country's prime minister and a lukewarm response from big investors in nearby Singapore.
Asian markets edged up Friday, led by exporters in Japan, as fears of a deep U.S. recession receded, but gains were capped by worries that inflation will cut into growth and lead to higher borrowing costs.
Asia's real estate sector is starting to feel the knock-on effects of the U.S. housing downturn and a slowing global economy. Would-be property buyers in cities like Hong Kong, Singapore and Sydney are waiting in expectation that prices will fall.
Asian markets rallied Thursday with Japanese shares making their biggest daily gain in amonth, after a monthly gauge of U.S. business spending rose to its highest this year. Tokyo closed 3 percent higher, but China's main index slumped.
Asian markets were mostly lower Wednesday, as a cloudy U.S. economic outlook and lingering inflation fears left investors skittish. Australia, Japan and South Korea all closed over 1 percent lower.
Singapore state investor Temasek on Wednesday announced plans to boost its presence in Brazil and Mexico to tap growth in Latin America's powerful emerging economies.
Asian markets rebounded Tuesday from the previous session's dip, as bargain hunters scoured the market after five days of losses. Both Japan and South Korea finished over 1% higher.
Asian stocks retreated into negative territory Monday, with most markets down more than 1% on fears that slowing U.S. consumer demand will hurt Asia's export-oriented economies. Japan shed 2.3% while South Korea slipped 1.5%.
Singapore's economy grew in the first quarter at its fastest pace since 2005, but slightly below market expectations, and the government raised its 2008 inflation forecast and warned of increased U.S. recessionary risks.
Asian markets were mixed Friday following a pullback in oil prices. A stronger U.S. dollar lifted some exporters in the region. Japan managed to close slightly higher but Australia shed 1 percent, weighed down by declining resource stocks.
Asian markets pared back earlier losses Thursday to give a mix performance, though prospects of higher inflation and a weak U.S. economy kept investors cautious. Japan and Australia both managed to close in positive territory.
Asian stocks were sharply lower Wednesday as fears about consumer demand in the face of high oil prices rattled investors. Japan closed 1.6% lower while Australia shed 1.4%.
Asian stocks ended lower on Tuesday, snapping a six-day rising trend, weighed by retailers as oil continued a relentless rise, keeping inflation fears high.