Building a world of
resilient communities.

MAIN LIST

 

Asian stocks fall

HONG KONG: Asian stock markets were mostly lower Wednesday amid continuing concerns about high oil prices and the impact this could have on the global economy.

Leading the way down were Tokyo, Seoul and Kuala Lumpur, but some of the markets in the Asia-Pacific ended the day higher on strong local fundamentals, such as Hong Kong’s strengthening property sector.

TOKYO: The Tokyo Stock Exchange’s benchmark Nikkei-225 index lost 0.48 per cent or 54.42 points to 11,242.34. The broader TOPIX index of all first section shares dropped 7.40 points or 0.65 per cent to 1,136.87.

"The surge in crude oil futures overnight is weighing on the stock market today," said Ryuta Otsuka, strategist at Toyo Securities.

Investors were also cautious ahead of a meeting of the Organization of Petroleum Exporting Countries Thursday and May US jobs data Friday, said Takashi Aoki, vice president of Fuji Investment Management.

On the New York Mercantile Exchange Tuesday, the July crude oil futures contract closed at a record 42.33 dollars a barrel, up 2.45 dollars or 6.1 per cent from Friday’s closing level.

More...
jang.com.pk/thenews/jun2004-daily/03-06-2004/business/b19.htm

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.

Tags:  

Citizens Can Sue Fracking Companies for Earthquake Damage, Says Oklahoma Supreme Court

Oklahoma almost never used to have earthquakes. But in the last six years …

Peak Oil Notes - July 2

 A midweek update. Despite a rally on Tuesday, New York oil …

Asia depends on Middle East for 66 % of its oil imports

Of Asia’s total incremental oil imports since 2001, 4.5 mb/d (47%) …

Rural Colorado Leads the Charge for Energy Freedom

Last week the Western Slope Colorado witnessed a huge victory for energy …

“We are in danger of winning. But….”  

First in-depth radio interview on The Winning of the Carbon War, on Radio …

Renewable Energy Redoubles its Global Reach

A significant threshold has been crossed by renewable energy as analysts …

Peak Oil Review - June 29

A weekly review in including Oil and the Global Economy, The Middle East …