Market Report - Asia Eyes Dollar

ZHANG:
In today's market report...

China Mobile—the country's top mobile carrier—extended losses after it announced its slowest growth in four years.

China's top e-commerce firm Alibaba also slid sharply after reporting a 57 percent drop in quarterly profit. The online site connects traders and goods in and out of China. It says its margins were squeezed by rising marketing costs aimed at countering the drop in global trade.

Japan's markets were closed for a holiday. But other Asian shares are set to gain for the second consecutive week as the Fed's plan to inject more than $1 trillion into the U.S. financial system improved confidence in the global banking system.

This could also mean a weaker dollar. And for export-dependent Asia, a weakening dollar could spark gains in local emerging currencies at a time when manufacturers are struggling with plummeting global demand.

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News & Politics

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