While energy prices could see some consolidation around $60 a barrel, markets remain firmly on a downtrend, says Daryl Guppy, CEO of Guppytraders.com.» Read More
Asian Markets closed mixed, with Japan ending weaker after spending most the session in positive territory. South Korea and Australia though finished stronger with Seoul gaining almost 2 percent.
Asian stocks closed sharply lower Monday, pulled down by the financial sector, with fears that the credit crisis is still in full swing returning.
Shares in PetroChina, which raised $9 billion in the world's biggest initial public offer this year, nearly tripled in their market debut and far exceeded analysts' forecast, buoyed by the company's position in the world's second-biggest energy market.
Markets in Asia closed weaker Friday, with financial stocks declining around the region on credit concerns after brokerages downgraded U.S. banking giants Citigroup and Bank of America.
Asian markets retreated in late afternoon trading, closing mixed after rallying earlier in the session following the Federal Reserve's interest rate cut.
Asian markets finished mostly higher with South Korea closing at a new record and Japan edging higher right at the end of the trading session. But most investors stayed on the sidelines ahead of the Federal Reserve's decision on U.S. interest rates, due well after regional market's close.
Asian markets closed mostly lower Tuesday, with Japan, South Korea and Australia ending down as investors held back ahead of a U.S. Federal Reserve policy-setting meeting that is expected to cut interest rates.
Asian markets rallied in the afternoon session Monday to close higher across the board. South Korea and Australia hit new records on speculation of a U.S. interest rate cut this week, a weak U.S. dollar and upbeat earnings results, which all helped push stocks up.
Asian markets rallied in the afternoon session Friday, ending the week higher as upbeat profits results from companies such as Sony gave stocks a boost. Japan and Australia both finished over 1 percent higher, while South Korea advanced 2.6 percent.
Asian markets finished mixed Thursday with financial stocks taking a hit while strong Chinese economic data raised investors' concern over the prospects of further monetary tightening. The Shanghai Composite sank 4.8 percent, but South Korea closed over 2 percent higher.
Most of the major Asian indexes closed in the red Wednesday on reports that Merrill Lynch is expected to announce bigger-than-expected third-quarter losses. Japan, South Korea and Australia all closed lower. All three indexes fell sharply midway through the session after spending most of the morning in positive territory.
China has changed over the last quarter-century from a largely planned system closed to international trade to a major player in the global economy.
Asian stocks closed higher Tuesday, reversing two straight sessions of declines. But Japan finished almost unchanged on lingering worries about high oil prices and the full impact of the U.S. housing slump on its economy.
Asian markets closed lower Monday, but pared back heavy losses suffered in the morning session and India's Sensex eked out a slight gain. Japan ended 2.2 percent lower while South Korea dropped 3.3 percent.
Asian markets finished red across the board Friday with financial stocks taking the worst of the beating as investors sold bank shares on credit concerns. Japan and South Korea both closed 1.7 percent lower, while Australia finished just shy of 1 percent down.
Chinese stocks were mixed on Friday after Beijing denied reports that it was studying a proposal to permit swaps of shares listed in both the domestic stock market and Hong Kong.
A rebound in banks and technology shares helped drive many Asian markets to a higher close Thursday, but speculation over the future of the Indian Prime Minister caused the Bombay Sensex to slump late in the session.
Beijing has floated the idea of allowing share swaps in firms listed in mainland China (A-shares) and in Hong Kong (H-shares), powering the Hang Seng Index to a record high, while the Shanghai market skidded.
Asian stocks ended in negative territory Wednesday, following Wall Street's decline after disappointing earnings from big U.S. banks while record crude prices fueled concerns about the outlook for corporate profits.
The markets traded mostly lower in Asia as bank stocks were battered across the board, but a surge in crude oil prices powered energy stocks on expectations that record high oil prices would boost profits.