Asian stock indexes finished lower across the board Thursday, with the exception of the Shanghai Composite Index, as investors were spooked by the surprise contraction in U.S. manufacturing, and the impact of record oil prices on global growth.
Maybe it's because of the Iowa caucus' taking place Wednesday night. Maybe it's because at the start of a new year, it's a good time to make predictions. Or maybe it's because the auto show season is about to kick off with the automakers putting out their visions for the future. Whatever the reason, I think today is the day to ask YOU which automaker has the most to show, prove, gain, lose in 2008?
Asian markets kicked off the new year under pressure on worries about a slowing global economy. But oil and gold prices continued to edge higher approaching record highs.
Asian stocks were mostly higher Monday in thin holiday trading, with most investors away to usher in the new year. But Pakistan's shares slid in its first reaction to the assassination of former prime minister Benazir Bhutto whose death last week plunged the country into one of its deepest crises.
Most Asian markets closed lower Friday as investors were rattled by the assassination of Pakistan opposition leader Benazir Bhutto, and data pointed to continuing economic weakness in the United States.
Japan Airlines Corp will seek a capital infusion of 100-150 billion yen ($880 million-$1.32 billion) from major creditors and business parters, likely through issuance of preferred shares, the Nikkei business daily reported on Friday.
Asian closed mixed, with some boosted by resources companies such as BHP Billiton as oil and commodities prices firmed. But Tokyo closed down, staying on course to end the year as the world's worst performing major stock market.
With Detroit essentially shut down for the week between Christmas and New Year's, it's a good time to step back and hand out "The Rodneys": The car and auto brands that -- taking a note from comedian Rodney Dangerfield -- don't get enough respect, according to you, the reader.
Asian stocks were mostly higher in the afternoon session Wednesday. Trade was thin as many investors were away for Christmas holidays. Japan closed higher be South Korea declined. Other Asian markets including Australia and Hong Kong were shut, and many markets in Europe will also be closed.
Japanese stocks closed at their highest in nearly two weeks Tuesday as investors picked up recently pressured shares such as Sony, encouraged by a softening yen and after news from Merrill Lynch prompted a rally on Wall Street.
With Detroit and much of the auto industry shut down this week and gearing up for the Detroit Auto Show next month, I thought it would be a good time to take a few minutes and share my Christmas wishes for the auto world. I hope Santa brings you everything you want.
Asian markets rallied on the Christmas Eve Monday, lifted by technology and bank stocks as stronger-than-expected U.S. consumer spending calmed fears the world's top economy was heading into a recession.
Asian markets closed higher across the board Friday, having got a lift from technology stocks and year-end program buying by funds. Most of the major indexes finished over 1 percent higher, while the Hang Seng gained 2.3 percent.
Asian markets closed mixed Thursday with Australia slipping into the red after initially rising in the morning and South Korea paring back gains to trade flat. But Chinese shares managed to move higher with property stocks on the advance.
As we close out this year, I know some of you are asking, "Hey Toyota Phil (a nickname a friend gave me after accusing me of giving the Japanese automaker too much praise) what do you think will happen in the auto industry next year?" Well, since you asked, and I know some of you haven't asked, here are my prognostications for 2008.
Japan's economy will grow 2.0 percent in the fiscal year starting on April 1, the government said on Wednesday while sharply downgrading its initial forecasts for the current year to reflect tumbling investment in housing.
Asian stocks were mixed in the afternoon session Wednesday, as markets failed to sustain an earlier recovery. Japan shed 1 percent despite spending most of the session in positive territory. Australia also closed lower.
Asian stocks seesawed in volatile trade Tuesday with financial counters and exporters taking a roller-coaster ride. Japan closed slightly lower though the market was well over 1 percent lower at one point. South Korea finished the session up 1.2 percent.
Asian markets were sharply lower at the end of trading Monday, with most of the benchmark indexes over 3 percent down at the close. Financial stocks sank as rising U.S. inflation lessened expectations for rate cuts in the world's biggest economy.
A credit ratings downgrade for U.S. banking giant Citigroup sent Asian financial stocks lower Friday, while the yen sagged after Japanese business sentiment dropped to two-year lows.