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Asian markets edged up Friday, led by exporters in Japan, as fears of a deep U.S. recession receded, but gains were capped by worries that inflation will cut into growth and lead to higher borrowing costs.
South Korea's current account surplus hit a three-year high in April as exports grew faster than imports, central bank data showed on Friday, helping push the won up sharply to a fresh 3-week high against the dollar.
Asian markets rallied Thursday with Japanese shares making their biggest daily gain in amonth, after a monthly gauge of U.S. business spending rose to its highest this year. Tokyo closed 3 percent higher, but China's main index slumped.
Asian markets were mostly lower Wednesday, as a cloudy U.S. economic outlook and lingering inflation fears left investors skittish. Australia, Japan and South Korea all closed over 1 percent lower.
Asian markets rebounded Tuesday from the previous session's dip, as bargain hunters scoured the market after five days of losses. Both Japan and South Korea finished over 1% higher.
Asian stocks retreated into negative territory Monday, with most markets down more than 1% on fears that slowing U.S. consumer demand will hurt Asia's export-oriented economies. Japan shed 2.3% while South Korea slipped 1.5%.
Asian markets were mixed Friday following a pullback in oil prices. A stronger U.S. dollar lifted some exporters in the region. Japan managed to close slightly higher but Australia shed 1 percent, weighed down by declining resource stocks.
Asian markets pared back earlier losses Thursday to give a mix performance, though prospects of higher inflation and a weak U.S. economy kept investors cautious. Japan and Australia both managed to close in positive territory.
Asian stocks were sharply lower Wednesday as fears about consumer demand in the face of high oil prices rattled investors. Japan closed 1.6% lower while Australia shed 1.4%.
Asian stocks ended lower on Tuesday, snapping a six-day rising trend, weighed by retailers as oil continued a relentless rise, keeping inflation fears high.
Asian markets hit a new four-month high Monday as a relentless rise in oil prices bolstered resource shares, but wariness about inflation and doubts about the U.S. economy kept gains in check.
Asian stocks rose cautiously Friday with markets modestly higher with Australia finishing just below the 6,000 level. But Japan closed in negative territory on profit-taking after spending most of the session in the black.
Asian markets ended mostly higher Thursday after investors welcomed benign U.S. consumer data which eased inflation fears. South Korea led the advanced finishing over 2 percent higher.
Asian markets turned mostly higher after a lackluster start Wednesday. Both Japan and Australia closed the session 1 percent higher.
Asian markets were mostly higher Tuesday with Tokyo and Seoul both gaining over 1%. But Chinese markets were weighed down by uncertainty following a devastating earthquake in Sichuan.
Asian markets closed mostly higher Monday, as a stronger U.S. dollar cheered investors and lifted exporters. Both Australia and Japan closed up with Australia gaining almost 1 percent.
Oil's relentless surge to a new peak above $124 weighed on Asian shares Friday, while a stronger yen pressured Japanese exporters, such as Toyota Motor.
Oil's relentless push to yet another record high pressured Asian shares across the board Thursday, raising fears that inflation -- and central bank measures to cool it -- would hurt consumer spending and profits.
South Korea's central bank held interest rates steady for the ninth consecutive month on Thursday, saying Asia's fourth-largest economy was faced with conflicting risks from inflation and economic slowdown.
Asian stocks were mixed Wednesday with some markets reversing earlier advances. Resource firms, helped by record high oil prices and rising metal prices managed to hang on to their gains.