Asian stocks surrendered early gains and turned lower on Monday, as investors worried about the sluggish U.S. economic outlook and Europe’s debt crisis.
Do NOT Deposit Another Dollar in Your Bank Account Until You Read THIS
A CIA insider has launched an urgent mission to expose the government’s secret money lockdown plan…
Once you see what could happen next time you go to an ATM, you’ll understand why he’s sending a FREE copy of his new book to any American who answers right here.
Japan’s Nikkei index was down 1%, hitting a five-month closing low. Additionally, there’s increasing expectations that Tokyo will intervene in forex markets to weaken the strong yen.
Shares of camera and office equipment maker, Canon, rose nearly 1%. But other exporters fell, with automaker, Toyota, dropping 2.5%.
Shares elsewhere in Asia fell more than 1.5% after briefly edging into positive territory earlier in the session.
South Korea’s KOSPI fell nearly 2%, extending falls to a third straight session as continued foreign selling pressured automakers.
Spot gold prices hit a record above $1,878 per ounce as the shaky global outlook prompted investors to move more money into the safe haven.
Brent oil futures fell more than 2%, weighed down by a firmer U.S. dollar and as the months-long conflict in oil-producing Libya appeared to enter its decisive phase.
Asian markets await Federal Reserve Chairman Ben Bernanke’s speech scheduled for Friday, during which he is expected to provide a U.S. economic outlook.