Asian Stocks Fall After China Raises Fuel Prices; Oil Retreats


20/03/2012 06:32 AST

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

Bloomberg
Global News
2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | News Archive
Most Viewed Companies
Ticker Price Volume
SABIC 77.76 6,151,692
SAGRINSURANCE 19.01 353,868
SPIMACO 34.58 298,609
RIBL 14.43 443,699
TAWUNIYA 79.63 239,699
JULPHAR 2.52 10,000
STC 60.4 368,554
Recent News

Abu Dhabi's First Gulf Bank Said Raising $1 Billion Loan
First Gulf Bank PJSC, the United Arab Emirates’ third-biggest bank by assets, is seeking to raise about $1 billion from a syndicated loan to boost lending as liquidity in the economy tightens, two ba

UAE stocks higher at close of trade; DFM General up 1.61%
United Arab Emirates stocks were higher after the close on Thursday, as gains in the Services, Real Estate & Construction and Finance & Investment sectors led shares higher. At the close in Dubai, t

Emaar Pushes On With Creekside Despite Slumping Dubai Property Market
Emaar Properties is offering hundreds of new luxury homes in Dubai that could sell for as much as 3.8 million dirhams ($1 million) each just as the city’s residential real estate market posted the wo

Saudi Arabian Industrial Investments names CEO
The recently formed Saudi Arabian Industrial Investments Company (SAIIC) has appointed Rasheed M Al-Shubaili as its chief executive officer (CEO) with effect from September 1.

Abdullatif A

SABIC cuts steel prices by SR 200 in all the regions of the Kingdom
The Saudi Basic Industries Corporation ( SABIC ) announces the reduction in the retail price of rebar by SR 200 per ton in all regions of the Kingdom, effective Tuesday, September 1, 2015. Abdulaziz

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?