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!  

Make connections via our GROUPS page.
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

Tags:  

Is This The End Of China’s Coal Boom?

“The End Of China’s Coal Boom,” is a new, must-read …

The Age of Diminishing Returns

A Q&A with Ugo Bardi, author of Extracted: How the Quest for Mineral …

Energy Crunch: The end of business as usual for fossil fuels?

It’s the end of business as usual for fossil fuels. That’s …

Peak oil notes - April 17

A mid-week update. Oil prices in London have risen this week on concerns …

Climate Panel Stunner: Avoiding Climate Catastrophe Is Super Cheap — But Only If We Act Now

The U.N. Intergovernmental Panel on Climate Change (IPCC) has just issued …

Kashagan – Back to the drawing board?

The recent shutdown of Kashagan oil field in Kazakhstan represents one …

King Coal Is Dying a Slow Death in America

In cities choked by pollution and a world coming to grips with the realities …