Asian stocks down: fears for European debt, while oil rises
Hong Kong (AsiaNews / Agencies)
- At midday the
Asian markets are all down, with shares
at their lowest level in a month. Analysts maintain
this depends on doubts about Europe's ability o to solve the debt crisis and the lack of indications of possible stimulus by
the Federal Reserve.
Stock markets in Tokyo, Seoul and Sydney were
down 1%, Hong Kong, a few minutes
after the opening, fell below 1.8%;
Shanghai dropped by
0.33%. State banks are among the
most negative titles, as a result
of the promises made yesterday by Premier Wen
Jiabao to stop their
monopoly on loans, and open to
the private banks.
Yesterday, European banks also fell sharply, mainly
because of slack sales of Spanish
bonds. In addition, the Fed
has signaled that
it may no longer offer any economic stimulus.
In New York oil rose
by 0.7% reaching 102 dollars a barrel, yesterday it had dropped to 2.4%
after the publication of data on U.S. government reserves, which climbed the most since 2008.
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23/06/2008
