Asian markets edged higher Thursday as recent selling pressure eased and the safe-haven bid for the dollar and gold retreated, but reminders of the global economic gloom and financial sector woes kept investors cautious.
Deepening economic gloom and fears about the health of the global finance sector pushed Asian shares to their lowest level this month Wednesday, prompting investors to move to low-risk assets such as regional bonds.
Japan's Nikkei is at risk of falling back to a 26-year low. Could we find ourselves in the same boat unless we do something about banks, and fast?
Asian stocks fell Tuesday, with Japan's Nikkei hitting a nearly four-month closing low, while the U.S. dollar surged as investors scrambled for safety from deteriorating global economic conditions and volatile banks.
Asian stocks were under modest pressure Monday, with dismal economic data and doubts about prospects for the financial industry outstripping investor relief that a U.S. economic stimulus bill had finally passed.
Asian markets reversed three sessions of losses to rise Friday on hopes that government efforts worldwide, including talk of a U.S. subsidy for mortgage payments, would soften the blow of the global downturn.
Asian markets declined despite U.S. stocks reversing recent losses as a deal to pass a massive U.S. stimulus package has been reached. Bank and tech stocks came under pressure, as corporate earnings and data pointing to a grim outlook for the region's economies weighed on sentiment.
Asian markets were mostly lower, led by financials, while the U.S. dollar rose Wednesday on skepticism over a new plan from Washington to heal the banking industry that could cost as much as $2 trillion.
Asian markets wobbled Tuesday as doubts grew about U.S. plans to create a bank to soak up toxic debts, while the euro fell over 1% against the yen and the dollar on a report that Russia is set to request a delay in repaying debt.
Asian stocks were mixed Monday as key markets closed lower after spending most of the session in the black. The U.S. dollar clung near a one-month high against the yen as investor risk aversion waned despite grim U.S. data.
Asian markets rose for a fourth day Friday, with investors awaiting a vote on a massive U.S. stimulus package, while the greenback was steady ahead of U.S. employment data likely to reflect a deep recession.
Asian stocks were shaky in uneven trading Thursday with markets weaving in and out of negative territory on fears about how far U.S. consumers will cut spending, while the euro steadied and sterling dipped ahead of meetings by their respective central banks.
Asian markets were mostly higher for a second consecutive session Wednesday on tentative signs of an improving outlook for the battered global economy, while oil gained ground in anticipation of more production cuts.
Asian stocks were all over the place Tuesday in choppy trade. Markets initially rallied on the back of increasingly aggressive efforts by governments to stabilize markets and support their economies. But the rally lost steam in the afternoon with Japan closing in negative territory.
Asian markets were mostly lower Monday as the yen and U.S. dollar advanced, with investors expecting another week of grim news on corporate earnings and the global economy.
Asian markets snapped a four-day winning streak Friday and the yen and U.S. dollar rose as investors retreated to safety with job losses accelerating globally while Washington scrambled to finalize a fix for banks.
Asian markets climbed Thursday while the greenback gained as investors took heart from the U.S. House of Representatives, making headway on a $825 billion stimulus spending package and other efforts to stem the financial crisis.
Asia stocks gained momentum in the afternoon to trade firmly in positive territory after the Bank of Japan said it would buy corporate bonds to ease an increasingly severe funding squeeze. Financials were mostly higher across the board after bank shares fuelled a Wall Street rally, but with global economic gloom still pervasive, safe-haven trades such as the yen and U.S. Treasuries also rose.
Asian markets rose Wednesday, helped by gains on Wall Street Tuesday and sharp gains in semiconductor stocks across the region, boosted by hopes the sector's chronic supply glut would ease after German chipmaker Qimonda filed for insolvency.
Asian stocks rose Tuesday, with Japan's Nikkei surging almost 5 percent higher following a gain in U.S. markets and as exporters rebounded on a weaker yen.