Prices soar to highest levels in a month
Bloomberg Sep 19, 07 5:00 AM CDT
(Newser)
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Asian stocks rebounded after the US Federal Reserve announced a half point cut in its key lending rate in a bid to bolster growth and avoid a consumer spending slowdown. Toyota, Samsung Electronics and Honda, among those companies with the most to lose from a loss of consumer confidence, led the gains, reports Bloomberg.
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Bloomberg Sep 18, 07 6:02 AM CDT
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Asian stocks fell yet again today as the subprime mortgage crisis continued to reverberate across global markets. The latest dip came when E*Trade Financial Corp and Bank of America announced the credit crisis was hurting earnings, Bloomberg reports. The biggest fear is that the rising cost of credit will halt consumer spending and trigger a global slowdown.
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Currency's record lows against euro cause "to cheer," analyst says
BusinessWeek Sep 15, 07 5:58 PM CDT
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The dollar may be continuing its slow, steady decline against the euro, but many analysts are looking on the bright side, Business Week reports. American stocks, companies, investors, and workers can all benefit from the decreasing value of their currency, economists say, with one calling the dollar’s decline “something to cheer about.”
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Mining and energy stocks rise but
can't stem tide
Bloomberg Sep 12, 07 7:21 AM CDT
(Newser)
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A jump in the price of copper boosted mining and energy stocks in Asia, but Japan's Nikkei index fell nonetheless after news hit of PM Shinzo Abe's resignation. Some investors say the change will be good for Japanese markets in the longer term, however. "Abe was an ineffective prime minister who didn't do anything of value for investors," says a Singapore-based strategist.
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Near-record crude prices outweigh
fears of US skid
Bloomberg Sep 11, 07 4:14 AM CDT
(Newser)
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Crude climbed within 50 cents of a record today, and that meant Asian stock indexes were climbing as well with the Nikkei rising 0.3% and the Asia-Pacific index up 0.1% after big losses Friday. Steel joined oil as a big mover when South Korean producers announced a price increase. Those prices, coupled with demand from China, are outweighing fears about a US slowdown.
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Fear of brake on US consumer spending
Bloomberg Sep 7, 07 4:07 AM CDT
(Newser)
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Asian stocks are falling again, reflecting worry the growing credit crisis in the US will puncture the economy and slash consumer spending. Mizuho Financial Group, Japan's second largest lender, dropped to a two-week low after an increase in home foreclosures in the US —and many other Asian financial stocks and indices dipped, reports Bloomberg.
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Subprime turmoil now
a given; traders await central banks' moves
Reuters Sep 4, 07 6:46 AM CDT
(Newser)
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In the wake of the Japanese agriculture minister's resignation, Asian markets stumbled today ahead of uncertain US economic data. For a change, analysts didn't point to the subprime crisis to account for the Nikkei's 0.5% slide: "After all, investors have got used to news on subprime issues," one equities trader told Reuters.
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Prez expected to announce plan to
bail out subprime borrowers
Bloomberg Aug 31, 07 7:34 AM CDT
(Newser)
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European and Asian markets rose today, in anticipation of a plan President Bush is expected to announce to bail out subprime lenders. Bush is expected to allow the FHA to guarantee loans for delinquent borrowers, allowing them to avoid foreclosure. "The news on Bush is going to be positive. It will hopefully help keep consumer confidence intact," says a London asset manager.
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Big exporters still trembling over possible US slowdown
Bloomberg Aug 29, 07 7:44 AM CDT
(Newser)
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European stocks and US futures advanced overnight, as traders waxed optimistic that the credit crisis won't spread to affect the broader economy. But Asian markets are more concerned about the general prospect of a US slowdown—which could hit Asia's export-heavy economy hard.
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US futures also up
as worries cool
Bloomberg Aug 23, 07 9:21 AM CDT
(Newser)
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Markets climbed worldwide after Bank of America invested $2 billion in Countrywide, giving the mortgage lender a desperately needed injection of cash and proving some appetite is left as subprime mortgages continue to rot. Barclays in the U.K., Mitsubishi in Japan, and Countrywide itself in Europe all saw major gains. "It's a significant vote of confidence," says an Edinburgh trader.
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Stocks see biggest jump in 5 years as panic
gives way to optimism
Bloomberg Aug 20, 07 1:00 AM CDT
(Newser)
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The global equities sell-off ground to a halt today as Asian stocks had their biggest gains in five years. Responding to Friday’s cut in the US Federal Reserve’s discount rate, Japan’s Nikkei 225, Hong Kong's Hang Seng and South Korea's Kospi indexes all saw huge gains as panic over the US subprime mortgage crisis largely subsided.
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Fourth day of losses hits markets
Bloomberg Aug 16, 07 11:57 PM CDT
(Newser)
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Despite a late Wall Street rally yesterday, Asian stocks plummeted for the fourth day in a row—driven as much by panic as by any other factor. Toyota, Canon and Mitsubishi all slipped badly, along with the Morgan Stanley Capital International Asia-Pacific Index, which was off 1.8 percent, and Japan's Nikkei 225 Stock Average, which fell 2.5percent, Bloomberg reports.
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Continuing credit woes trigger steepest dive
in six years
Reuters Aug 16, 07 4:42 AM CDT
(Newser)
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Asian stock markets continued to slide today, pounded by fears of a global credit squeeze, recording their most precipitous drop in five years, Reuters reports. South Korea's Kospi index skidded 6.9 percent as major corporations and financial institutions took horrific beatings. Australia's Rams Home Loans Group revealed it can't refinance $5 billion of debt, and Toyota, Samsung and the Japanese Bank Mizuho suffered major falls.
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Dow sinks below
13,000 as credit
tremors continue
Wall Street Journal Aug 15, 07 4:18 PM CDT
(Newser)
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Major indexes sank again after a volatile day, as analysts continue to speculate on a possible interest-rate cut. The New York Fed put about $7 billion into the system with an overnight repurchase agreement, which put an early bounce in the Dow before it lost 167.45 later in the day to close below its historic 13,000-point benchmark at 12861.47, mainly on credit jitters that bled into Asian markets overnight.
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Subprime mortgage damage, uncertainty continue to spread
Bloomberg Aug 15, 07 7:42 AM CDT
(Newser)
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European markets plunged today over worries about the spreading subprime mortgage crisis. Analysts downgraded UBS and Deutsche Bank, which dropped, and all 14 open Western European exchanges lost ground, echoing the Asian markets' earlier retreat. "There's a lot of uncertainty about what's going on and who has lost money from the credit-market debacle," says a Swiss strategist.