Asian Stocks Fall After China Raises Fuel Prices; Oil Retreats


20/03/2012 06:32 AST  Bloomberg

Asian shares dropped after China increased gasoline and diesel prices for the second time in less than six weeks. Gold fell and oil snapped two days of gains in New York amid speculation supplies are rising.

The MSCI Asia Pacific Excluding Japan Index (MXAPJ) lost 0.3 percent as of 11:12 a.m. in Tokyo. The Shanghai Composite Index slid 0.8 percent, while Standard & Poor’s 500 Index futures were little changed. Australian bond yields rose while crude dropped 0.6 percent to $107.50 a barrel. Gold for immediate delivery slid 0.4 percent to $1,658.40 an ounce.

“Higher energy costs and falling profits may worry investors that the economy is slowing even further,” said Dai Ming, a fund manager at Shanghai Kingsun Investment Management & Consulting Co. in Shanghai.

For more on this Click Here

Global News
2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | News Archive

JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV
Most Viewed Companies
Ticker Price Volume
EMAAR 10.75 53,925,052
SABIC 97.36 6,173,823
EEC 51.65 8,208,662
TAWUNIYA 55.87 1,575,366
RIBL 18.44 1,653,584
ALKHODARI 47.5 1,172,405
NCB 61.67 6,936,620
Recent News

du and Microsoft join forces to provide SMBs
du and Microsoft have announced a new partnership, under which du will become the first telecom service provider in the UAE to offer Office 365 cloud-based productivity applications and services dire

Al Rajhi Bank plans further growth in 2015
Al Rajhi Investment and Banking Corporation Malaysia Bhd (Al Rajhi Bank) plans to grow its business in 2015 aided with the capital injection of RM500 million from its parent company Al Rajhi Bank. <

Dubai's Amlak Finance signs financial, debt restructuring deal
Dubai's Amlak Finance said on Tuesday it had signed a $2.7 billion debt and financing restructuring deal with creditors.

The Islamic mortgage lender has been negotiating with creditors to

Oil Volatility Here to Stay Regardless of OPEC Decision
Whatever the outcome of tomorrow’s OPEC meeting, options traders are betting on oil-price swings.

That’s because the decision from the Organization of Petroleum Exporting Countries isn’t l

Mexico Shrugs Off OPEC as Exxon to Chevron Line Up to Bid
As OPEC ponders ways to prop up crude prices, Mexico is staying focused on a long-term plan to open its state-controlled oil industry to foreign producers.

The Latin American country is sc

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Which of the following do you think is the best long-term investment?