This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Asia Stocks Fall On Fed Doubts Over Bond Buying

By JOE McDONALD

BEIJING (AP) â¿¿ World stocks mostly rebounded Friday from two days of doldrums sparked by fears the Federal Reserve would withdraw monetary stimulus. European markets were helped by a better-than-expected German business confidence survey.

The Asian heavyweight, Tokyo's Nikkei 225 index, opened down but recovered to gain 0.7 percent to 11,385.94. In the region's biggest economy, China's benchmark Shanghai Composite Index fell 0.5 percent to 2,314.15.

In Europe, France's CAC-40 was up 1.3 percent at 3,670.74 and Germany's DAX gained 0.7 percent to 7,63.71. Britain's FTSE 100 added 0.8 percent to 6,344.30. Sentiment was helped by Germany's IFO business survey that further eased fears of recession in Europe's biggest economy.

Wall Street was set to gain. Dow futures added 0.3 percent to 13,906 and S&P 500 futures rose 0.4 percent to 1,506.70.

In Asia, Seoul's Kospi gained 0.2 percent to 2,018.89. Hong Kong's Hang Seng shed 0.5 percent to 22,782.44 and Taipei's Taiex lost 0.1 percent to 7,947.72. Australia's ASX/S&P 200 added 0.8 percent to 5,018.10.

World markets had been rattled by Wednesday's release of notes from the Fed's last policy meeting that suggested some policymakers were worried about the cost of its monetary stimulus. That sparked concern the Fed might wind down asset purchases, though some analysts suggested such fears were overblown.

On Thursday, the Labor Department reported the number of Americans seeking unemployment benefits rose 20,000 last week to 362,000 but said longer-term, the job market appears to be improving.

Benchmark crude for April delivery was up 43 cents to $93.26 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $2.24, or 2.4 percent, to $92.98 on Thursday, the second drop of 2 percent in two days.

In currency markets, the dollar rose to 93.39 yen from 93.26 yen late Thursday. The euro rose to $1.323.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs