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:  

BP: Global Coal Use Fell by Largest Recorded Margin in 2015

Global coal use fell by more than 70 million tonnes of oil equivalent (Mtoe) …

Peak Oil Review: A Midweek Update - 23 June 2016

 A midweek update. The oil markets are still dominated by the …

Diablo Canyon Nuclear Reactors to Be Replaced With 100% Renewable Energy

An historic agreement has been reached between Pacific Gas and Electric …

Renewable Electricity: Falling Costs, Variability, and Scaling Challenges

The universal availability and use of electricity has come to define modern …

Presenting Our Renewable Future   

David Fridley and Richard Heinberg present on our energy future.

The Oracle of Oil: Review

A review of Mason Inman's timely new book, The Oracle of Oil: A Maverick …

China: Is peak coal part of its problem?

Why would a country selectively decide to slow down the growth of the fuel …