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
Most Viewed Companies
Ticker Price Volume
EEC 86.96 7,884,595
RIBL 18.36 3,745,755
EMAAR 9.72 9,270,309
ARTC 4.23 192,972,723
MMG 12.55
HAMMADIINVEST 49.2 157,360
SECO 16.25 5,907,674
Recent News

Saudi Arabia’s Petromin mulls initial public offering
Petromin, the Middle East's oldest lubricants company, may sell shares to the public next year after Saudi owner Dabbagh Group cancelled a proposed 20 per cent stake sale, two people familiar with th

Commercial Bank fund wins ‘Qatar Equity Fund of the Year’
Commercial Bank’s Al Waseela fund (F-Class) has won the prestigious ‘Qatar Equity Fund of the Year’ award for 2013 at the ‘Zawya Mena Asset Management Awards’.

The Al Waseela Fund (Q-Class

Abu Dhabi banks’ profits soar on loan growth and fee incomes
Three leading Abu Dhabi banks led by National Bank of Abu Dhabi (NBAD) on Tuesday showed strong growth in profits supported by rising interest and non-interest incomes and consistently declining non-

DAMAC latest project sells out in one night
The latest project to be launched by luxury real estate developer, DAMAC Properties, has sold out in just one evening.

Nearly 300 luxury apartments in Loretto, which is located in Downtown

GIS H1 net profit rises 58% to QR463.7mn
Registering growth across all portfolios of its business, particularly drilling operations, Gulf International Services (GIS) posted a record half yearly net profit of QR463.7mn, up 58% on QR170.6mn

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?