Sumitomo Mitsui Financial Group, Japan's third-largest bank, said it would fall about 20 percent short of its earnings estimate for the year that ended in March, hurt by losses on its stock holdings and higher provisions for bad loans.
Panasonic maker Matsushita posted on Monday a 15 percent rise in quarterly operating profit thanks to brisk sales of flat TVs, and forecast a larger-than-expected gain this year, with its mobile phones and DVD recorders also selling well.
Asian markets trimmed their early gains on Monday as investors took a breather following a rally in financial stocks. But many remained optimistic that the banking sector may finally be putting the credit crunch behind it.
Japanese retail sales rose 1.1 percent in March from a year earlier, government data showed on Monday, matching economists' median forecast.
Panasonic maker Matsushita Electric Industrial and Sanyo Electric may tie up in the first reorganisation move among Japan's top electronics makers, the Yomiuri newspaperreported on Monday, but the two companies quickly rejected the report.
A bounce in the U.S. dollar lifted some Asian stock markets on Friday, while crude oil sank further from its recent $120 a barrel record, dragging energy firms down but boosting airline counters. Japan finished at a two-month high.
Asian stocks were mixed in the afternoon session Thursday with Japan and Australia closing lower. But the Shanghai market took centerstage, surging as much as 9.5 percent at one point after a stamp duty tax cut gave flagging Chinese stocks a boost.
Mobile phone maker Sony Ericsson posted sharply lower profits on Wednesday as a slowdown in consumer spending hit its business, but earnings were at the high end of the firm's range and exceeded market expectations.
Asian markets were stronger Wednesday, shrugging off the burden of near $120-a-barrel oil and a record high euro, to continue a rally that has recovered all the ground lost last month. Shanghai surged over 4 percent, while Australia gained 1.6 percent.
Japan's exports in March rose less than expected from a year earlier, suggesting that companies are starting to feel the pinch from a slowing U.S. economy.
There is a fondness and attraction to Cadillac, Buick and Chevrolet that is helping GM make headway in China.
Asian markets came under pressure on Tuesday after U.S. stocks pulled in a mixed performance. Investors sold financials following weak earnings from Bank of America.
Talk about coming of age. The Beijing Auto Show and China's auto market are making a statement this week. It's loud and clear: "We are world players!" In fact, it brings up the question about whether this show and the Chinese market are bigger than the Detroit Show and U.S. Market?
Asian stocks rose to their highest level in seven weeks on Monday, as investors cheered upbeat earnings from U.S. bellwethers which triggered a rally in U.S. stocks last Friday.
Asian markets eked out some gains Friday. Stocks spent the better part of the session dipping below and above the line. Japan and South Korea pulled ahead at the close, finishing higher, but China and Australia closed weaker.
Bank of Japan Governor Masaaki Shirakawa said on Friday that the economy was slowing due to rising energy and raw materials costs, but he maintained that it would likely pick up gradually.
Asian stock indexes made firm gains Thursday, with the exception of the Shanghai Composite Index, boosted by financial and technology stocks with Japan, South Korea and Australia all closing stronger.
Asian markets moved forward Wednesday, with high-tech exporters buoyed by a reassuring outlook from industry leader Intel and energy shares underpinned by record high oil prices. Japan and Australia both closed over 1 percent higher
Asian markets wavered between losses and gains Tuesday, but closed broadly higher, as oil and gold prices gained. The U.S. dollar struggled to attract buyers due to signs of a weak earnings season for banks, which could expose yet more subprime losses and punish stocks worldwide.
Asian markets dropped sharply Monday as a nasty earnings surprise from General Electric and a 26-year low in U.S. consumer sentiment drowned out the Group of Seven nation's support for the U.S. dollar. Japan shed 3% while China was down over 5%.