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
2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | News Archive
Most Viewed Companies
Ticker Price Volume
QNBK 136 101,748
BRES 31.1 159,584
QNNS 86.8 6,277
GISS 38.8 1,814,410
IQCD 98 84,392
QFLS 154 15,568
CBQK 37.1 59,865
Recent News

Insurance sector ‘presents scope for further growth’
Bahrain’s insurance industry is ripe for consolidation, says an industry leader. Tas’heelat Insurance Services Company (Tisco)’s general manager Ali Al Daylami told the GDN that mergers and acquis

Bank Sohar sponsors GCC new age banking summit
As part of its commitment towards supporting the development of the local economy and the Banking industry as a whole in the country, Bank Sohar recently sponsored the GCC New Age Banking Summit. The

GCC individual investors more focused on long-term growth than short
Natixis commissioned an independent survey of over 7000 individual investors globally, including 300 in the GCC, from the affluent to the high net worth. It found that: An average of real annual ret

Shares fall amid listless trading
Shares on the Muscat Securities Market edged down amid listless trading on Wednesday. The MSM30 Index fell by 0.12 per cent amid lower trading activity to close at 5,930.51points. The MSM Sharia Inde

Siemens has helped Oman save 31% of gas in power generation: CEO
Siemens Technology has helped Oman save 31 per cent of gas in power generation, a senior company official said.

“The latest three power plants in Oman utilise Siemens gas turbines. Because

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

Poll

Looking ahead, what change you are more likely to make in investing in your domestic stock market?