Hopes for a China-led recovery to the world economy got a reality check Thursday, as government data showed the country's exports in May fell a record 26.4 percent compared to last year.
Sony Corp.'s quarterly profit plunged 72 percent as a surging yen wiped out the benefits of strong flat-panel TV and PlayStation 3 sales, as well as box office revenue from the movie "Hancock."
Asian stocks tumbled Thursday, with Tokyo's market plunging more than 11 percent, after another dive on Wall Street as worse-than-expected data about the U.S. economy heightened fears of a global recession.
Japanese stocks finished mixed Thursday, as gains in steel and trading house shares played off against a drop in consumer credit stocks following reports that a major domestic player may be restructuring.
Hopes for a China-led recovery to the world economy got a reality check Thursday, as government data showed the country's exports in May fell a record 26.4 percent compared to last year.
Sony Corp.'s quarterly profit plunged 72 percent as a surging yen wiped out the benefits of strong flat-panel TV and PlayStation 3 sales, as well as box office revenue from the movie "Hancock."
Asian stocks tumbled Thursday, with Tokyo's market plunging more than 11 percent, after another dive on Wall Street as worse-than-expected data about the U.S. economy heightened fears of a global recession.
Japanese stocks finished mixed Thursday, as gains in steel and trading house shares played off against a drop in consumer credit stocks following reports that a major domestic player may be restructuring.
Asian stocks jumped Wednesday morning in the wake of Wall Street's overnight surge spurred by the Federal Reserve's larger-than-expected interest rate cut.
Japanese stocks were mixed Thursday as traders were jittery over the outlook for the government after Prime Minister Shinzo Abe announced his resignation a day earlier.
Japanese stocks fell Wednesday after Prime Minister Shinzo Abe announced plans to resign after a string of damaging scandals and a humiliating electoral defeat.
Most Asian stocks rallied Thursday, with market sentiment buoyed in large part by gains Wall Street posted overnight on optimism about a possible U.S. interest rate cut.
Asian stocks fell on Friday on concern that problems in the U.S. housing and credit markets could push the world's biggest economy into recession, while the yen steadied against the dollar and euro.
Most Asian stocks traded stronger on Wednesday, lifted by hopes of a U.S. interest rate cut to calm turbulent markets, but caution ahead of this week's Bank of Japan policy meeting weighed on Japanese equities.
Stocks shot higher on Wall Street and in Europe in a powerful rally Friday after the Federal Reserve cut the discount rate it charges on direct loans to banks in a bid to calm anxious markets and defuse a global credit shortage.
Asian stocks headed for their biggest weekly fall in nearly a decade on Friday as stubborn credit fears drove investors away from risky trades, despite a dramatic late rebound on Wall Street.
Tokyo stocks slipped early Friday as investors cautiously awaited key events including a series of earnings reports from major Japanese companies later in the day.
Tokyo stocks were mixed midday Friday after South Korean high-technology giant Samsung Electronics Co. reported better-than-expected earnings for the fourth quarter of last year, countering negative sentiment from Wall Street's losses overnight.
Asian markets are sharply lower Wednesday afternoon, led by hefty falls in Tokyo as investors sell technology issues in line with Wall Street's losses.
Most Asian markets are slightly higher at midday Tuesday as investors welcome Wall Street's resilience in the face of a terror alert, but Tokyo is in the red.
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