Market News

Asian stocks rose, with the regional benchmark index heading for a fourth day of gains, as materials and health-care shares advanced, countering a decline in Japan’s index amid a stronger yen.

The Organization for Economic Cooperation and Development issued its statement on the global economy and said that Japan’s economy is likely to grow slower than anticipated, despite the BOJ’s numerous efforts to stimulate the economy.

OPEC is considering exemptions for three nations from any potential oil-production cuts. Saudi Arabia’s oil minister told reporters that he didn’t know what OPEC should do at its next meeting but he didn’t anticipate a difficult meeting when the group meets on Nov. 27 to decide its response to slumping crude.

Investors are all but convinced that the European Central Bank is on the verge of additional easing and have already begun the sell-off which sent the common currency Euro to a 2-year low versus its major rival, the U.S. Dollar.

Gold was trading close to a three-week high on Monday, holding its ground from the previous session on hopes that a surprise rate cut in China would boost demand for bullion in the top consumer, though a strong dollar capped gains.

Japan’s yen rose for the first time in seven days as Finance Minister Taro Aso said its decline has been too fast. Most Asian stocks fell, with the regional index headed to its biggest weekly retreat since mid-October, while crude oil climbed for a second day.

Yesterday’s release of the most recent Federal Reserve minutes suggest that the U.S. central bank is keen on raising interest rates in 2015 and more, that the FOMC is relatively unconcerned about the greenback’s strength.

Asian stocks fell a second day after Federal Reserve minutes showed some U.S. policy makers were concerned about low inflation. Shares in Japan gained as the yen weakened past 118 per dollar.

The U.S. Dollar struck a 7-yearpeak versus the Japanese Yen during European trade and remained close to a 14-month high against the Pound Sterling.

Japanese shares gave up early gains on Wednesday as investors booked profits after Prime Minister Shinzo Abe delayed a tax hike and said he would call a snap election to seek a fresh mandate for his economic policies.

During early trade in Europe, the common currency Euro edged higher, regaining lost ground versus the U.S. Dollar, as investors turn their focus to the German ZEW survey, which measures investors’ sentiment.

Asian stocks rose as investors await a decision by Japanese Prime Minister Shinzo Abe to put off a sales-tax increase, add stimulus and call an election, after data yesterday showed the economy entered recession.

The Bank of Japan had been held in high regard the world over, given its seeming ability to tweak and control monetary policy to fit its need.

Asian markets were mixed on the first trading day of the week after Japan released worse-than-expected third quarter growth data and as mainland markets welcomed the launch of the keenly-anticipated Shanghai-Hong Kong stock connect.

Chinese shares retreated on the last day before a link between the Shanghai and Hong Kong bourses begins. The dollar gained versus major peers, touching a seven-year high versus the yen as U.S. oil headed for its longest weekly losing streak since 1986 and gold fell.