Asian Stocks Fall for Fourth Day on Spain Yields, China Bad Loans Concern (Bloomberg)
Asian stocks fell for a fourth day as China’s bank regulator was said to warn banks that loans to property developers may sour and as rising Spanish bond yields stoked concern that Europe’s debt crisis is infecting major economies. China Resources Land Ltd. (1109), a state-owned developer, fell 4.7 percent. HSBC Holdings Plc (HSBA), Europe’s biggest lender, led banks lower. Sony Corp. (6758), Japan’s No. 1 exporter of consumer electronics that gets 21 percent of its sales in Europe, fell 2.1 percent. BHP Billiton Ltd., the Australian mining company, led a drop among shares most tied to economic cycles as oil and metal prices dropped. The MSCI Asia Pacific Index dropped 1.4 percent to 114.53 as of 11:23 a.m. in Tokyo, set for the lowest close since Oct. 10. About five stocks fell for each that rose on the index. The measure has fallen 2.4 percent this week, set for a third weekly decline.
GLOBAL MARKETS-Shares fall, dollar firms on Europe funding fears
TOKYO, Nov 18 (Reuters) - Asian shares fell for a fourth day in a row and the dollar firmed on Friday as Europe's funding difficulties intensified, with Spanish borrowing costs hitting an unsustainable level and premiums for dollar funds rising further.
"Despite positive economic data from the U.S., the market is still focused on Europe and its contagion risk," said Hiroichi Nishi, equity general manager at SMBC Nikko Securities.
COMMODITIES-Biggest sell-off since Sept; US oil back below $100
NEW YORK, Nov 17 (Reuters) - Commodity prices on Thursday took their steepest tumble since September, with U.S. oil sliding back below $100 a barrel and metals and grains extending monthly losses, after risk aversion across markets.
"All commodities markets are very vulnerable to what is happening in Europe," said Lysu Paez Cortez, commodities analyst at Natixis in London.
Oil falls nearly 4 percent on profit taking
NEW YORK, Nov 17 (Reuters) - Oil prices tumbled on Thursday, with U.S. crude dropping 4 percent as investors booked profits a day after after a surge to five-month highs tested key technical levels.
"We're almost into a seventh week of gains in U.S. crude and that has prompted some investors to take some profits," said Gene McGillian, analyst at Tradition Energy in Stamford, Connecticut.
POLL-US natgas storage seen ending winter at 21-yr high
NEW YORK, Nov 17 (Reuters) - U.S. natural gas inventories should end winter at a 21-year peak after starting the heating season at an all-time high for a third straight year, creating a buffer for consumers over the summer, according to a Reuters poll of traders and analysts.
Without winter temperatures that come close to matching last year's severe cold, brimming inventories next spring could spell more trouble for prices, which hit a two-year low this week of $3.11 per mmBtu despite the fast approaching peak heating demand season.
Short-term view may be only winner in Brent-U.S. oil play
LONDON, Nov 17 (Reuters) - The hottest oil spread of the year, Brent versus U.S. crude, is bracing for months of volatility as investors put polar bets on the outlook for the U.S. and European oil markets and use the trade as a proxy for short-term speculation on the regions' economies.
The premium for ICE Brent futures over NYMEX U.S. crude , also known as WTI, narrowed to an eight-month low on Thursday. The spread reached a low of $7.89 per barrel, from a record of more than $28 in mid-October. It moved back to around $9.25 by 1645 GMT.
Natgas ends up, shorts cover despite record stocks
NEW YORK, Nov 17 (Reuters) - U.S. natural gas futures ended higher on Thursday for the first time in seven sessions, lifted by technical buying after a six-day slide despite government data showing inventories climbed to a record high last week.
"We had so many down days, it wasn't surprising to see buying interest come in, particularly after we hit a new low, but we're still in a bearish market fundamentally," Matt Smith, commodity analyst at Summit Energy, said, noting bargain hunting and short-covering after the new low.
Euro Coal-Prices little changed by strike, lower oil
LONDON, Nov 17 (Reuters) - Prompt physical coal prices rose by a marginal 25 cents a tonne on Thursday, little affected by a strike and by falls in oil prices and equities, while few trades were reported.
"We have some excellent Colombian coal, but there's no interest - I can't get a yawn," one broker said.
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