Light sweet crude for April delivery ended trading at $101.16 a barrel after hitting as low as $99.01 a barrel earlier in the day. London’s Brent crude futures for April delivery fell $1.59 to settle at $113.84 a barrel, losing 1.8 percent on the week.
Commodities market plunges, gold may fall
Comex gold futures prices are trading near steady Friday morning, after a major earthquake that hit Japan overnight. The quake has injected uncertainty into the market place, which has led to selling pressure in many markets, including commodities. Comex April gold last traded down $1.00 an ounce at $1,411.50. Spot gold last traded down $0.20 at $1,411.50. Read More...
Hong Kong Shares May End Losing Streak
The Hang Seng finished sharply lower on Friday, with heavy selling in the afternoon following the earthquake. Data-driven fears of further tightening measures from China added to the weak sentiment, forcing the financials and property stocks lower. For the day, the index plunged 365.11 points or 1.55 percent to finish at 23,249.78 after trading between 23,105.99 and 23,514.73 on turnover of 78.79 billion Hong Kong dollars.
Taiwan Shares May See Higher Open
The TSE finished modestly lower on Friday, with heavy selling in the afternoon following the earthquake. Technology stocks led the market lower, while the cement, financial, food and construction sectors also ended under pressure. For the day, the index lost 75.08 points or 0.86 percent to finish at 8,567.82 after trading between 8,513.51 and 8,593.71. There were 3,157 decliners and 1,122 gainers, with 376 stocks finishing unchanged. Read More...
Nikkei stabilises, local market down
The Australian All Ordinaries Index hit a three-month low by dropping one per cent in the first half hour of trade, and Japan's Nikkei had dropped 5.6 per cent after the first 20 minutes of trade. By 12.15pm the Australian market had recovered slightly, the benchmark S&P/ASX 200 down 33.1 points to 4611.7 and the All Ordinaries down by 38.9 to be 4695.9. At 10.15am, S&P/ASX200 index was down 44.3 points, or 0.95 per cent, at 4,600 points, while the broader All Ordinaries index had fallen 46.7 points, or 0.99 per cent, at 4688 points. Read More...
Gold gains while oil dips on Japan impact
Gold futures for April delivery rose $9.30, or 0.7 per cent, to settle at $1,421.80 on the Comex in New York, the biggest gain for a most-active contract since March 4. The precious yellow metal climbed the most in a week as Japan’s earthquake impact boosted it safe haven appeal already up by tensions in the Middle East and North Africa. Read More...
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