Sani Hamid, Director of Wealth Management, Economy & Market at Financial Alliance, compares China's central bank to the European Central Bank.» Read More
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.
Asian markets fell Tuesday as concerns grew about the global financial system, while emerging currencies such as the South Korean won extended their recent sell-off.
Asian markets were mostly higher while the greenback tumbled Monday on media reports the U.S. government could end up with as much as 40% stake in Citigroup. This sparked some relief among investors who cut their safety trades.
Asian stocks fell and the U.S. dollar rose Friday as investors chose safety on evidence the global economy remains in difficulty and the nationalization of more banks in the developed world is increasingly likely.
Asian markets edged higher Thursday as recent selling pressure eased and the safe-haven bid for the dollar and gold retreated, but reminders of the global economic gloom and financial sector woes kept investors cautious.
Deepening economic gloom and fears about the health of the global finance sector pushed Asian shares to their lowest level this month Wednesday, prompting investors to move to low-risk assets such as regional bonds.
Asian stocks fell Tuesday, with Japan's Nikkei hitting a nearly four-month closing low, while the U.S. dollar surged as investors scrambled for safety from deteriorating global economic conditions and volatile banks.
Asian stocks were under modest pressure Monday, with dismal economic data and doubts about prospects for the financial industry outstripping investor relief that a U.S. economic stimulus bill had finally passed.
Asian markets reversed three sessions of losses to rise Friday on hopes that government efforts worldwide, including talk of a U.S. subsidy for mortgage payments, would soften the blow of the global downturn.
Asian markets declined despite U.S. stocks reversing recent losses as a deal to pass a massive U.S. stimulus package has been reached. Bank and tech stocks came under pressure, as corporate earnings and data pointing to a grim outlook for the region's economies weighed on sentiment.
Asian markets were mostly lower, led by financials, while the U.S. dollar rose Wednesday on skepticism over a new plan from Washington to heal the banking industry that could cost as much as $2 trillion.
Asian markets wobbled Tuesday as doubts grew about U.S. plans to create a bank to soak up toxic debts, while the euro fell over 1% against the yen and the dollar on a report that Russia is set to request a delay in repaying debt.
Asian stocks were mixed Monday as key markets closed lower after spending most of the session in the black. The U.S. dollar clung near a one-month high against the yen as investor risk aversion waned despite grim U.S. data.
Asian markets rose for a fourth day Friday, with investors awaiting a vote on a massive U.S. stimulus package, while the greenback was steady ahead of U.S. employment data likely to reflect a deep recession.