Japan stocks slip on yen worries; Aussie rebounds
HONG KONG, Aug 23 (Reuters) - Japanese shares extended losses amid worries a strong yen would derail the fragile economic recovery, while the Australian dollar recovered after falling to a one-month low on inconclusive weekend elections.
"There is the mining tax and the broadband issues but there are not too many economic differences," said Simon Burge at ATI Asset Management which oversees A$500 million. "But with no party having a clear majority it makes it hard for them to get any of their mandates through."
GLOBAL MARKETS: Japan stocks extend losses, Aussie rebounds
HONG KONG, Aug 23 (Reuters) - Japanese shares extended losses on Monday amid worries a strong yen would derail the fragile economic recovery while the Australian dollar recovered after falling to a one-month low on inconclusive weekend elections. Investors are focused on whether central bank Governor Masaaki Shirakawa and Prime Minister Naoto Kan will meet to discuss any official action in the face of the yen's strength.
US jobless claims at 9-month high, outlook darker
WASHINGTON, Aug 19 (Reuters) - The frail U.S. economy received fresh setbacks as new U.S. jobless claims scaled a nine-month high last week and Mid-Atlantic manufacturing shrank in August for the first time in more than a year. Other data released on Thursday, including a lackluster gain in a gauge of future activity last month, also implied that expansion had lost momentum after a brisk first quarter, though economists cautioned against interpreting the reports as signs of an impending double-dip recession.
ANALYSIS-Slowdown to shackle industrial commodities in H2
LONDON, Aug 19 (Reuters) - Industrial commodities face an uphill struggle over coming months as economic growth slows, but the price collapse seen in the last quarter of 2008 is unlikely. Recent data from the United States has raised doubts about the strength of recovery in the world's largest economy. Meanwhile China is tightening policy to rein in price pressures.
FOREX-Euro hits 5-wk low vs dollar on ECB comments
LONDON, Aug 20 (Reuters) - The euro fell to its lowest against the dollar in more than a month on Friday after comments by a European Central Bank official bolstered the view that euro zone monetary policy would remain loose for months to come. "The comments will lead the market to believe that policymakers are expecting further economic weakness," said Raghav Subbarao, currency analyst at Barclays Capital.
U.S. economy concerns hurt stocks
LONDON, Aug 20 (Reuters) - Investors steered clear of riskier assets amid growing concerns about slackening growth in the U.S. economy.
Globally, equities were lower, with Europe giving up early gains. The Japanese yen, a popular safe haven, threatened to hit a 15-year high against the dollar.
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