Weak Metals Oil Drag Asia Lower

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Market Update :

Weak Metals, Oil Drag Asia Lower

Author: 123jump.com Staff
123jump.com
Last Update: 9:54 AM EDT March 20 2008

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Asian markets fell in the region on weak metals and crude oil prices. Gold fell 3%, crude oil declined 2% and copper dropped 4% in the regional trading. The sharp drop in metal prices dragged mining companies in Australia, China, and Hong Kong trading. Japan, Markets in India, Indonesia, Malaysia, Pakistan, and Philippines were closed. China Mobile and PetroChina fell after the release of earnings. BHP and Rio Tinto plunged 7%.

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