BIZCHINA / Asia

    Asia stocks drop after China raises rates
    (Bloomberg)
    Updated: 2006-04-29 15:46

    Asian stocks dropped from 16-year highs this week, led by BHP Billiton and PetroChina Co., after China's central bank unexpectedly raised its key lending rate to cool economic growth and crude oil tumbled.

    Toyota Motor Corp. and Samsung Electronics Co. led declines by exporters on concern the value of their overseas sales will slide after the yen and won strengthened against the dollar.

    The Morgan Stanley Capital International Asia-Pacific Index, a dollar-based index that tracks shares in 14 markets across the region, lost 0.1 percent to 137.03 last week. A measure of energy stocks including PetroChina dropped 3.6 percent as crude oil prices fell from a record.

    Japan's Nikkei 225 Stock Average slumped 2.9 percent, its worst performance in 11 weeks. South Korea's Kospi index dropped 2.2 percent, while Hong Kong's Hang Seng Index fell 1.5 percent.

    BHP Billiton, the world's largest mining company, lost 2.7 percent this week. PetroChina, China's biggest oil producer, slumped 6.6 percent.

    China's central bank increased banking lending rates by 0.27 percentage point on Friday to 5.85 percent and asked the nation's banks to restrict lending to prevent the economy from overheating.

    Shares of mining companies and commodity producers dropped on speculation increased borrowing costs will curb demand for raw materials in the world's fastest growing major economy. China is the world's biggest consumer of copper, steel and zinc.

    ``Companies that rely on the Chinese market may suffer if China continues raising rates,'' said Tsuyoshi Shimizu, who helps oversee $16 billion at Dai-Ichi Kangyo Asset Management Co. in Tokyo.

    Rio Tinto Group, the world's third-biggest miner, fell 2.7 percent and CNOOC Ltd., China's biggest offshore oil producer, slumped 6.7 percent.

    Oil futures tumbled 4.4 percent this week to $71.88, since touching a record $75.35 a barrel on April 24 in New York. Copper, which has doubled in the past year, fell 4.3 percent from a record this week, while zinc tumbled 4.1, its biggest weekly decline since February. Aluminum lost 0.8 percent.

    Toyota, Japan's biggest automaker, lost 3.5 percent this week and Samsung Electronics, South Korea's biggest exporter, fell 6.7 percent.


    (For more biz stories, please visit Industry Updates)

     
     

    无码久久精品国产亚洲Av影片| 久别的草原在线影院电影观看中文| 天堂网www中文在线| 国产精品99久久久精品无码| 中文字幕精品亚洲无线码二区| 亚洲成a人片在线观看无码| 中文字幕乱码人在线视频1区| 日韩人妻无码精品久久免费一 | 国产乱人伦Av在线无码| 亚洲七七久久精品中文国产| 亚洲人成人无码网www国产| 无码无套少妇毛多18PXXXX| 亚洲一区日韩高清中文字幕亚洲| 亚洲熟妇无码八V在线播放| 久久av无码专区亚洲av桃花岛| 精品欧洲AV无码一区二区男男| 一本久中文视频播放| 亚洲综合中文字幕无线码| 国产精品无码av在线播放| 亚洲av中文无码乱人伦在线咪咕| 中文字幕亚洲无线码| 最近2019好看的中文字幕| 中文字幕亚洲欧美专区| 亚洲AV无码一区二区三区在线观看 | 亚洲一区二区三区AV无码| 亚洲欧美日韩在线不卡中文| 中文字幕精品视频| 亚洲av综合avav中文| 最近高清中文字幕无吗免费看| 成人无码小视频在线观看| 人妻丰满熟妇无码区免费| 日韩乱码人妻无码系列中文字幕 | 亚洲大尺度无码无码专区| 国产亚洲精久久久久久无码77777 国产又爽又黄无码无遮挡在线观看 | 亚洲人成无码久久电影网站| 日韩经典精品无码一区| 好硬~好爽~别进去~动态图, 69式真人无码视频免 | 无码任你躁久久久久久| 久久精品无码专区免费| 精品久久久无码中文字幕| 免费无码婬片aaa直播表情|