Ken Peng, Asia investment strategist at Citi, explains why the bank's new target for the Hang Seng index at 32,000 isn't far-fetched and outlines the sectors he likes.» Read More
Asian stocks teetered Tuesday, snuffing a five-day rally as uncertainty about U.S. banks pushed dealers to take profits on recent gains, while investors' reduced willingness to take risks lifted the U.S. dollar and yen.
Asian shares climbed to a six-month high Monday, as hopes that the global economic downturn is nearing its bottom spur demand for riskier assets while hitting the yen and safe-haven government bonds.
Efforts by G20 leaders convinced investors that policy makers were united enough to keep a risk taking rally alive Friday, pushing up Asian markets higher for a fourth day.
Asian markets surged Thursday, with investors seeing a sliver of hope the U.S. economy has bottomed, while the euro edged up before a European Central Bank meeting at which rates may be cut for the last time in a while.
Asian markets started the new quarter with more gains after an impressive performance in March on expectations the frail global economy is about to bottom out and hopes the financial system was on the mend.
Asian stocks wobbled Tuesday with markets weaving in and out of negative territory as some investors bet the most painful stretch of corporate earnings damage may be over and bought technology shares.
Asian markets dived and U.S. stock futures slumped Monday, while safe-haven U.S. Treasuries gained after the Obama administration's autos task force rejected turnaround plans for troubled automakers GM and Chrysler.
Asian markets touched two-month highs on Tuesday, with financial stocks among the leaders, as the U.S. government's plan to absorb toxic debts met with investor approval.
Asian stocks rose to a two-month high Monday and high-yielding currencies advanced on the yen after details on a U.S. plan to rid banks of up to $1 trillion of toxic assets improved confidence about risk taking.
Asian markets were mixed Friday, but looked set to gain for a second consecutive week -- marking their best weekly back to back gains since mid-December -- as the Fed's plan to inject a combined $1.15 trillion into the U.S. financial system improved battered confidence in the banking sector.
Asian markets struggled while the U.S. dollar nursed large losses Thursday, after the Federal Reserve pledged to pump an additional $1 trillion into the ailing U.S. economy.
Asian stocks drifted higher Wednesday as banks extended gains, while Japanese government bonds rose after the Bank of Japan sharply increased the amount of government debt it would purchase to support the economy.
Asian markets advanced Tuesday, with banks extending gains on hopes the struggling global financial system is stabilizing, despite reports showing the U.S. economy is deteriorating further.
Asian stocks wavered Thursday as some markets were disappointed with the lack of any detail to China's stimulus plans, while the euro fell on expectations the European Central Bank will cut rates to an all-time low later in the day.
Asian markets climbed into positive territory while the U.S. dollar rose to a three-year high against a basket of currencies Wednesday, after Federal Reserve Chairman Ben Bernanke gave a grim view on the financial sector.
Stocks in Tokyo hit a 25-year low Tuesday and most major indexes in Asia were down, caught in the downdraft of risk aversion sparked by renewed concern over the global financial sector.
Asian stocks dropped sharply Monday after data last week showed a sharp drop in U.S. fourth-quarter growth, and on worries the U.S. government may need to extend additional help to an ailing financial sector.
Asian markets were mixed Friday, ending the month with losses on continued investor concern over the world economy and the financial system, while safety bids such as dollar buying erased some of their recent gains.
Asian markets turned negative late Thursday with the U.S. dollar extending its rally against the yen as mounting economic damage and prolonged political uncertainty in Japan tarnish the yen's safe haven reputation.
Asia stocks were mixed Wednesday despite reassuring comments from Federal Reserve Chairman Ben Bernanke, which sparked a rebound in battered U.S. financial shares. The yen slid further on Japan's mounting economic and political troubles.