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Article: Japan : Asian Energy Stocks Drop as Crude Oil Falls; Utilities Advance.
- Article from:
- TendersInfo
- Article date:
- November 19, 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 stocks retreated, led by financial companies and commodity producers, as recession in Japan and Hong Kong and declining oil prices heightened concern a global economic slowdown is deepening.
Mitsubishi Estate Co., Japan's largest developer by market value, sank 5.4 percent after the Nikkei newspaper said Tokyo office rents retreated for the first time in six years. Hong Kong Exchanges & Clearing Ltd., which runs the city's equities market, slid 7.2 percent after Morgan Stanley cut its share price target. BHP Billiton Ltd. sank 4.9 percent in Sydney after China National Petroleum Corp., China's largest crude producer, said oil ...