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Asian markets rose Friday as investors bought shares that stood to benefit the most from an expected global recovery, but still looked set to post their biggest weekly decline since March on worries equity markets have risen too far, too fast.
Asian markets were sharply lower Thursday as weak U.S. retail sales highlighted the long road to economic recovery, prompting profit-taking on winning bets in equities, higher-yielding currencies and commodities over the past two months.
Asian stocks wobbled Wednesday with markets in Japan and South Korea finishing higher but Australia closing lower as investors bought back defensive sectors after a solid rally in the last few months left them wondering whether it would last.
Asian shares fell for a second consecutive session on Tuesday as some of the confidence that fuelled a recent rally was dampened by reports that highlighted the weakness in the global economy.
The rally in Asian markets ran out of steam Monday afternoon as investors took profits from the recent run up in stocks. The key benchmarks in Tokyo and Seoul crept up to close marginally higher after a choppy session.
Asian markets were on shaky ground Friday ahead of U.S. monthly employment data, due out later in the session, that will provide another step in determining whether the recent signs of an improving global economy are real or just wishful thinking.
Asian markets rallied Thursday, as encouraging signs about the health of U.S. banks and the state of the global economy bolstered riskier assets such as oil and hurt safe-havens such as the yen.
Asian stocks were mostly lower while the yen rose Wednesday after news Bank of America needs $34 billion in fresh capital, sending shivers through investors ahead of official results of stress tests on U.S. banks due for release on Thursday.
Asian stocks were higher Tuesday with cyclical stocks and coal miners rising on signs of stability in the global economy, and greater China markets buoyed by cross-strait hopes. Trade though was quiet with markets shut in Japan, South Korea and Thailand.
Asian stocks punched to a seven-month peak Monday, fueled by confidence the global economy is recovering faster than expected and on a further jump in Taiwanese shares on hopes for an influx of Chinese investment.
Asian markets open the Monday session higher as optimism grows that the United States economy is starting to stabilize. Trade in equities is thin due to the Golden Week holidays in Japan, with markets there closed until Thursday.
Asian markets hit four-month highs Thursday as investors took heart from signs of improvement in the U.S. economy suggesting regional exporters may need to start cranking up production.
Asia stocks and the Australian dollar bounced back on Wednesday from a two-day slide, with investors taking heart from data showing the U.S. economy slowly healing, and betting the swine flu outbreak will be contained.
Asian stocks slipped for a second session Tuesday on worries about the potential economic fallout from the swine virus outbreak, even as investor reaction remained limited due to uncertainty about the full impact.
Asian stocks weakened Monday with worries about a global flu pandemic unnerving financial markets boosting pharmaceuticals while beating down pork product makers, trade, travel and tourism stocks.
Asian stocks edged up Monday, holding near a six-month peak struck last week and withstanding an early bout of profit-taking as investors eyed a slew of corporate earnings reports around the world this week.
Asian markets were mixed Friday and the yen slipped, after upbeat results from JPMorgan and Google kept a revival of risk taking alive, with shares outside Japan on track for a sixth week of gains.
Asian stocks pulled back from a six-month high Thursday, while the safe-haven yen gained after China posted its slowest ever quarterly growth in a signal of the frailty of the global economy.
Asian markets pulled back from six-month highs Wednesday but held up after the drop on Wall Street, with hopes for more Chinese stimulus spending helping offset reports of weak first-quarter growth.
Asian markets bounced back and forth in a narrow trading band Monday. Trading was quiet after most major overseas centers were closed on Friday due to the long Easter weekend.