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.
Singapore Telecommunications, Southeast Asia's largest phone company, beat market expectations with a 9.2% rise in quarterly profit due to rapid mobile user growth in Asia.
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.
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.
DBS Group, Southeast Asia's biggest bank by assets, posted a less-than-feared 2 percent drop in quarterly profit, as fast loan growth partially offset a loss in trading income due to credit-related writedowns.
Asian markets were mostly weaker Tuesday after surging oil prices and worries that Bank of America would scrap a deal to buy mortgage firm Countrywide Financial hurt Wall Street.
Asian stocks were higher Monday, after upbeat U.S. jobs data buoyed Wall Street Friday, with stronger oil and metal prices lifting resource firms. Volumes were thin with both the Japanese and South Korean markets closed for national holidays.
Asian markets were sharply higher Friday after better-than-expected economic data, a rebound in the U.S. dollar and falling oil prices and triggered a rally on Wall Street. Both Japan and Australia closed 2 percent higher.
The Japanese and Australian markets closed lower in the afternoon session Thursday. Trading was quiet with most markets in the region closed for the Labour Day holiday.
Most Asian markets closed lower Wednesday ahead of the U.S. Federal Reserve rate decision later in the session. Japan finished slightly lower, but Shanghai was the stand out performer, up almost 5 percent.
Singapore's unemployment rate rose to a seasonally adjusted 2 percent in the first quarter amid mounting uncertainties in the global economy, and analysts warned the jobless rate may climb higher in the months ahead.
CapitaLand, Southeast Asia's top property developer, reported a 59 percent slide in quarterly profit due to weaker sales in Singapore and lower one-off gains, and said home buyers would remain wary amid the global credit crisis.
Asian markets were lackluster on Tuesday following a flat finish in the U.S. stock market. But Greater China shares remained firm on the back of positive corporate earnings. Most investors were sidelined and cautious ahead of the Federal Reserve's two-day meeting.