Asian stocks hit a two-month high Monday, with investors betting the global economy will start to recover later this year by shedding some of their big holdings of safe-haven government bonds.
It's a quiet start to the New Year in Asia this Friday, with major markets like Japan and China closed for holidays. Trading volumes are very thin with many investors still away on vacation.
Asian markets ended the last trading session of 2008 mostly higher. However, markets suffered record losses for the whole year.
Asian markets closed mixed Tuesday in thin year-end trading. Oil prices and shares of resource producers rose as violence in the middle east escalated stirring caution among investors and denting the dollar.
Asian stocks closed mixed Monday with Japan pushing back into the black right at the end of the Nikkei's trading session. Bank and financial shares weaker and energy-sensitive shares such as airlines falling on the oil rebound. Trading activity was limited before New Year's holiday.
Asian stocks finished the Christmas Eve session mixed with markets closing early, in holiday-thinned trade Wednesday.
Asia stock markets retreated for a third straight day Tuesday as more investors locked in profits on the year-end rally and prepared to close their books on one of the worst years in decades.
Asia markets were mostly lower Monday though Japan managed to finish higher, while the dollar retreated after the U.S. government's $17.4 billion of rescue loans to ailing automakers last week.
Asian markets were mostly higher, helped by property and bank shares, on hopes policymakers will follow the Fed's lead and cut rates with abandon to spur growth. But the U.S. dollar sank to 13-year lows against the yen.
Asia stocks rose and the U.S. dollar remained under pressure Wednesday after the Federal Reserve cut rates to a record low, paving the way for regional policymakers to take more aggressive actions to support growth.
Asian markets were mostly lower Tuesday, ahead of an expected 10th rate cut by the U.S. Federal Reserve since the financial crisis began and likely dismal results from Goldman Sachs, while the dollar hit a two-month low against the euro.
Asian markets made strong gains Monday with both Japan and South Korea climbing 5% on renewed hopes for a bailout of the U.S. automaker industry.
Asian markets were hit hard by news the U.S. Senate had failed to reach an agreement on a bailout plan to rescue the ailing Big Three automakers. Losses in the Japanese market accelerated in the afternoon as a sharp selloff in key auto stocks put pressure on the market
Stocks in Asia were mixed Thursday as concerns over the global economy once again took center stage, while renewed uncertainty about the U.S. auto bailout plan sparked a subtle shift towards assets seen safer such as the yen.
Asian stocks hit a one-month high Wednesday on hopes for government-led help for key sectors such as technology, which encouraged risk-taking to the detriment of assets perceived as safer.
Asian stocks were mixed Tuesday. Any gains were kept in check as hopes for big government spending to revive growth were offset by investors shying away from risk in wrapping up a brutal 2008.
Asia markets rallied sharply Monday, with investors taking heart from a rescue plan for U.S. automakers and hopes that the sharp drop in oil prices will ease some of the pain for households facing mounting layoffs.
Blacker Friday? Job losses in November were the worst since 1974, as U.S. employers cut payrolls by 533,000. Mortgage loan delinquencies and foreclosures hit record highs in the third quarter — though one economist likes falling mortgage rates. Merrill Lynch cut its oil forecast, saying a temporary downspike of $25 is even possible. But one analyst praised the oil plunge as the equivalent of a "huge tax cut."
Lousy sales, weak earnings and more layoffs reigned over Thursday, with glum news from Nokia, Viacom, Merck, AT&T, DuPont, Credit Suisse and retailers across the board. European central banks enacted big rate cuts. And Fed Chairman Ben Bernanke urged more government efforts to stanch soaring home foreclosures. But CNBC heard from experts who say that while the news will get worse through 2009, markets will periodically rally — and one strategist sees the Dow at 12,000 in 2010.
Sydney and Tokyo led Asian bourses higher in what was a mixed day for the region marked by thin trade as investors stayed on the sidelines in the wake of the U.S. Thanksgiving Day holiday.