Asian markets experienced a large turnaround Friday, after hitting five-year lows in the morning session. Stocks bounced into the black on rumors that China would adjust interest rates as well as short covering.

Asian markets fell like dominoes Thursday after U.S. stocks hit their lowest in more than five years. The rout was especially pronounced in Japan, where the Nikkei lost almost 7%.

Asian markets further weakened Wednesday while the yen rose, with risk-averse investors fretting about the deepening damage to corporate profits and consumer spending despite a late rally on Wall Street.

Asian markets fell Tuesday after Citigroup cut 52,000 jobs in a dramatic move to save itself and downbeat policymaker comments reflected worsening economic conditions that will unlikely improve until well into 2009.

Asian markets wavered Monday as hopes for substantial global financial policy changes faded after a weekend meeting of world leaders failed to produce concrete measures, causing investors to continue to seek safety in U.S. dollars.

Asian shares rallied and oil held on to gains Friday as this week's sharp losses were seen as excessive even as signals continued to flash 'danger' for the global economy ahead of a G20 meeting this weekend..

Asian markets were sharply lower Thursday following a steep drop on Wall Street after the U.S. backed away from its $700 billion dollar bailout plan to buy up toxic assets. Intel added fuel to the selloff by cutting its fourth-quarter sales forecast.

Asian markets fell for a second day Wednesday and oil prices slipped back near a 20-month low as poor corporate earnings highlighted the damage from the global economic slowdown on companies and consumers.

Asian markets and commodities retreated Tuesday while the yen pushed higher as a souring economic outlook took some of the wind out of investor hopes sparked by China's stimulus plan.

Asian stocks and commodity prices climbed Monday after China unveiled a nearly $600 billion economic stimulus plan, one of many measures countries are undertaking to limit the economic fallout from the financial crisis.

Asian stocks closed mixed after a weaker open, as layoffs and corporate profit warnings piled up in the face of a rapidly slowing global economy. But South Korea's KOSPI rebounded after the country's central bank slashed interest rates by 25 basis points.

Asian stocks fell sharply with Japan losing 6.5% and South Korea down 7.5%  Thursday as more evidence that the U.S. economy is shrinking made investors brace for a potentially deep and lasting global recession.

Asian shares hit a three-week high Wednesday and the U.S. dollar extended gains after Barack Obama became the next U.S. president, ending uncertainty about who will lead the world's largest economy in the midst of great financial peril.

Japan's Nikkei index closed 6%  Tuesday, as exporters gained on the yen's recent weakness, though other markets were down after reports pointed to a shriveling U.S. economy ahead of the presidential election.

Asian stocks rose for a fifth straight day Monday on hopes policy efforts so far to dampen the impact of the financial crisis would ultimately take hold, though data still painted an ugly picture of the global economy.