Asian Stocks Slip as Oil Moves Above $55
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Asian share markets fell on Monday after oil hit a record above $55 a barrel, with investors cautious ahead of earnings reports from bellwether firms IBM and Texas Instruments later in the day.
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Asian stocks slid on Monday as investors fretted over high oil prices and bleak earnings prospects at technology firms, while Australian markets cheered a resounding election win for Prime Minister John Howard.
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Oil prices marched toward $50 a  barrel on Friday, weighing on Asian stock markets as investors  fretted over the impact of high energy costs on corporate  profits, consumer spending and economic growth in general.
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Asian shares were mostly lower on  Wednesday as oil prices hovered near $50 a barrel, with  Japanese stocks sliding for a ninth session, led by exporters  and tech stocks.
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Asian shares mostly eased on Monday with South Korea retreating from record highs on fears the government may move to cool the market, while Brent crude was about $1 away from its highest level due to supply worries.
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Asian stocks edged down on Tuesday as a reduced sales forecast by the world&#39;s biggest retailer, Wal-Mart, stoked concerns of slower economic growth and offset relief from lower oil prices.
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Oil prices held steady above $46 and  most Asian stock markets edged higher on Monday, but Japanese  pharmaceutical shares fell after U.S. drug maker Pfizer  reported safety risks for its Celebrex arthritis drug.
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Asian shares ticked higher on Tuesday  as oil paused in its near-daily record climb, providing  investors a chance to buy banks and some semiconductor shares  such as NEC Electronics Corp.
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Asian stocks fell sharply on Wednesday, led by Tokyo, following overnight sell-offs on Wall Street amid growing concerns about the subprime mortgage market.
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Asian stocks bounced in early trade  on Wednesday after the strongest rally in the Dow Jones index  since June, but gains were trimmed after an earthquake jolted  northern Japan and chip-related stocks slumped.
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Expectations that U.S. interest rates   will rise unsettled Asian stock markets on Thursday with Tokyo   hitting a one-week low, while crude oil fell to its lowest   level in five months as supply worries eased.
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Exporters led a fall in Asian shares on Monday as oil prices set new highs near &#36;47 and data showing the U.S. trade deficit widened to a record raised fresh concern about the health of the world's largest economy.
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Asian stocks eased on Monday, taking a breather after four straight weeks of gains, with expectations of a U.S. interest rate cut this week offset by renewed worries about a global credit squeeze.
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Crude oil prices hovered nearly five percent below a 21-year high Monday, lifting most Asian shares and giving investors some respite from concerns that energy costs would choke off profits and economic growth.
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Technology stocks led Asian share  markets lower on Friday after a retreat by their U.S. peers,  with investors cautious amid record-breaking oil prices and  ahead of U.S. jobs data later in the day.
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U.S. stocks slipped at the open on   Wednesday after crude oil prices edged higher after seven days   of losses.
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Technology shares edged up in Asia on Tuesday, as crude oil prices hovered near $44 a barrel and the dollar languished ahead of key US economic data.