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Article: United States: Asian Stocks Drop, Led by Commodities Producers, on Gold, Oil.
- Article from:
- TendersInfo
- Article date:
- August 18, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: manish03
Asian shares fell, led by telephone companies and commodity producers, after Singapore Telecommunications Ltd.'s profit missed estimates and metals prices extended declines.
SingTel, Southeast Asia's largest phone company, dropped, while China Mobile Ltd. retreated after Citigroup Inc. cut its price target. Australia's Newcrest Mining Ltd. fell after gold dropped to the lowest level since December. PT Internasional Nickel Indonesia tumbled, helping to send the country's stocks to their biggest decline in four months, after Citigroup slashed its price estimate.
The MSCI Asia Pacific Index fell 0.9 percent to 127.47 as of 7:21 ...