Asia stocks gain on China; yen near 15-yr high
SINGAPORE, Sept 1 (Reuters) - Asian stocks rose on Wednesday as investors cheered a manufacturing rebound in China and stronger-than-expected growth in Australia, while the yen inched up towards a 15-year peak against the dollar.
"The market is still concerned about the global recovery momentum, but based on fundamentals, some funds will flock from developed countries to Asia," said Daniel Chan, chief economist and wealth management strategist BWC Capital Markets in Hong Kong.
Asia stocks slide, slowing US economy eyed
TAIPEI, Aug 31 (Reuters) - Japan led Asian stocks lower as worries about the flagging U.S. economy triggered profit taking across the region and fed a five-month rally in U.S. and Japanese government bonds. "Though the U.S. spending data yesterday wasn't bad, it's the indicators out later this week that are the really important ones, and predictions for these are really raising fears about the economic recovery," said Takashi Ushio, head of the investment strategy division at Marusan Securities in Tokyo.
Imports stifle US 2nd-quarter growth, spending up
WASHINGTON, Aug 27 (Reuters) - The U.S. economic recovery was weaker than originally estimated in the second quarter and analysts have now revised forecasts for third quarter growth down also. Gross domestic product growth, the measure of total goods and services output within U.S. borders, was revised down to only 1.6 percent, from 2.4 percent, the Commerce Department said. The economy grew at a 3.7 percent pace in the first quarter of 2010.
Bernanke says recovery softer, Fed to act if needed
JACKSON HOLE, Wyo., Aug 27 (Reuters) - U.S. Federal Reserve Chairman Ben Bernanke said on Friday the economic recovery has weakened more than expected and the Fed stands ready to act if needed to spur slowing growth. Bernanke downplayed concerns that the economy might slip back into recession, predicting a modest expansion in the second half of this year, with the pace picking up in 2011.
FOREX-Yen nudges back near 15-yr peak as BOJ impact fizzles
LONDON, Aug 31 (Reuters) - The yen nudged back towards a 15-year high against the dollar on Tuesday as investors shrugged off the Bank of Japan's latest policy easing, betting instead on more yen gains that would test official readiness to intervene. "Japan's ministry of finance is sending signals that it is willing to intervene but clearly people remember its struggle with intervention a few years ago," said Simon Derrick, head of currency research at Bank of New York Mellon.
World stocks fall, yen back near 15-yr peak
LONDON, Aug 31 (Reuters) - World stocks fell in markets dominated by concerns the U.S. economy is sliding back into recession, prompting further flows into safe-haven assets. "If you look at all the noise, all the volatility and all the nervousness, it's clear that this market has one major fear at the moment and that's the double dip," said Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets in Brussels.
GLOBAL MARKETS: Cloudy US outlook dents shares; yen strengthens
NEW YORK, Aug 30 (Reuters) - World stocks fell on Monday on skepticism that governments can reverse a slowdown in global growth, while the yen rallied after Japan's action to expand loans to banks disappointed investors who had wanted more aggressive measures to curb the currency's rise. "Equity markets are going to be a little bit defensive this week as the economic data is likely going to show more slowing in the economy," said John Brady, senior vice president at MF Global in Chicago.
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