Asian stocks bounced Tuesday, extending gains as a rally in U.S. financial shares helped Japan break a 10-session losing streak, while also reversing a little of the recent safe-haven rush into the yen.
Japan's Nikkei fell for a ninth straight session Monday as concerns about company earnings outlooks weighed on Asian stocks, while oil languished near a six-week low as faith in a rapid economic recovery faded.
Uncertainty on earnings and economic recovery prospects saw Japanese shares finish at seven-week lows Friday, while prices for commodities such as oil and copper looked to build a floor after recent declines.
South Korea's central bank on Friday revised up its economic forecasts for the whole year and the next year as the economy enjoyed its fastest quarterly growth for 5-½ years in the second quarter
Asian markets were mostly lower Thursday with Japanese stocks tumbling after the yen spiked to a five-month high against the dollar, with investors seeking to trim riskier bets amid growing concerns about the health of the global economy.
South Korea's central bank held interest rates steady at a record low for a fifth consecutive month on Thursday, in a widely expected move to support an only nascent recovery in Asia's fourth-largest economy.
Japan's Nikkei 225 Average and oil prices hit six-week lows Wednesday as investors pulled funds out of bets on the global economy's recovery and favored safe havens, such as the U.S. dollar and government bonds.
Asian markets were mixed Tuesday as stocks struggled after a slide the previous day, while the yen held gains against higher-yielding currencies as investors doubt the speed of the global economy's recovery.
Asian markets got off to a hesitant start Monday as investor doubts on the staying power of a global recovery kept Asian stocks soggy and currencies subdued ahead of a much-expanded Group of Eight meeting this week.
Asian markets retreated Friday and the greenback edged up after a disappointingly big drop in U.S. employment prompted investors to pull back from commodities, resource-linked shares and higher-yielding currencies.
Asian stocks struggled Thursday ahead of the latest U.S. payrolls report, while the U.S. dollar remained near a three-week low against the euro, sensitive to lingering doubts about its reserve status.
Asian markets struggled to gain ground Wednesday as economic data showed the process of turnaround to recovery was likely to be a slow grind, and the greenback capitalized on that more cautious sentiment.
Asian markets and the Australian dollar rose Tuesday — the last day of the second quarter —as investors kept adding to bets global economic activity is rebounding, having driven Chinese shares to the highest in a year.
Asian markets were mostly lower Monday with many investors stuck to the sidelines as the second quarter winds down. The U.S. dollar recovered from a slide on worries about the push by major emerging countries for a reserve currency alternative.
Asian markets rose unevenly across the region Friday, as higher oil and metals prices boosted resource stocks, while the dollar fell as investors, growing slightly more confident, gingerly shifted some funds back into riskier assets.
Asian stocks rallied for a second day Thursday after the Federal Reserve reinforced that interest rates will be kept at a record low for a while, but Treasuries extended losses as the Fed shied away from boosting its debt purchases.
South Korea's finance ministry on Thursday upgraded its economic forecast for 2009 and pledged to maintain its expansionary policy stance to ensure a recovery in Asia's fourth-largest economy.
South Korea's key consumer sentiment index in June rose for a third consecutive month to a near two-year high despite repeated cautioning by policymakers on the state of the economy, central bank data showed on Thursday.
Asian stocks inched higher Wednesday from a one-month low hit the previous day while the U.S. dollar drifted, with investors bracing for a Federal Reserve decision and any signs the central bank is worried about the jump in U.S. bond yields.
Asian stocks tumbled Tuesday, but were off the morning session's lows, after falling commodity prices and a sharp drop on Wall Street spooked investors into taking profits and buying the yen on speculation the rapid pace of recovery may not be sustainable.