Asia, Stock Market | featured news

China's campaign to cut a huge backlog of initial public offerings has failed to deliver. Now there are signs that the authorities could be preparing to reopen the IPO floodgates.

Trading in the stock market turned more treacherous in late-day trading as investors reacted to slowing economic growth in China and a massive commodity sell-off -- and as initial word spread as well of the explosions at the end of the Boston Marathon. The Dow Jones industrial average lost 266 points on the day, down 1.8%. It was the Dow's biggest point drop since Nov. 7, in the wake of President Obama's reelection, when the index lost 295 points.

Gold headed for its biggest two-day drop in 30 years on Monday as funds accelerated their exits from the market, and investors also cut exposure to oil, copper and grain after underwhelming Chinese growth data.

Japan's stock market is experiencing a rally unmatched since bulls ruled in the 1980s, as a weak yen and expectations of much bolder steps by the central bank draws investors into the long-dormant market.

Stocks closed Friday higher even as a raft of weak data from China signaled a slowing global economy.

Stocks are opening lower on Wall Street, deflated by signs that the global economic meltdown is being felt across Asia... China reported sharply lower growth in its exports. The so-called fiscal cliff, when U.S. government spending cuts and higher taxes kick in on Jan. 1, looms larger now that the distraction of earnings season is over.

In an unlikely coincidence certainly unwelcome to China's communist rulers, the stock benchmark fell 64.89 points Monday, matching the numbers of the June 4, 1989 crackdown in the heart of Beijing. In China's lively microblog world, "Shanghai Composite Index" soon joined the many words blocked by censors. In another odd twist, the index opened Monday at 2,346.98. That is being interpreted as 23rd anniversary of the June 4, 1989 crackdown when read from right to left.

Concerns over a slowdown in the world's biggest economies hit world markets on Friday, with weak indicators out of China and Europe's financial turmoil unsettling investors ahead of a crucial U.S. jobs report.

Investors in Asia continued to sell off risky assets like stocks on Monday, as Europe's prolonged debt crisis and the possibility of a global recession caused investors to flee riskier assets like stocks.

A decision by European central banks to support the region's financial system helped calm Asian markets, setting off a rally across the region in Friday trading....