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Market Update : 
Markets Decline on Inflation and Oil
Author: 123jump.com Staff
123jump.com
Last Update: 13:38 PM ET June 15 2005


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Cosumer Price Index dips by 0.1% on the decline in oil prices by 3.4% in the month of May. Industrial Production increase as businesses build inventories. Markets sell-off as tech, health care, casinos sell-off but home builders jump.

 
Most Asia-Pacific markets closed higher as Japanese stocks advanced further up after the Nikkei hit a two-month high the previous session. The index added 0.7% led up by banking and export-related stocks. Taiwan’s index ended up 0.8%, Seoul’s Kospi was up 1.9% whereas China’s Shanghai Composite index closed down 1.9%. The U.S. dollar bought 109.34 yen in late U.S. trading.
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