Asian stocks end lower


In oil trade, the benchmark West Texas Intermediate (WTI) for September delivery rose 10 cents to $US97. 48 while Brent crude gained 25 cents to $US104. 86 in afternoon trade. Gold fetched $US1,290. 13 an ounce by 0850 GMT (1850 AEST) compared with $US1,292. 10 late on Tuesday. — Manila lost 0. 36 per cent or 25. 03 points to 6,948. 97.

Hong Kong finished down 0. 26 , while Shanghai slipped 0. 11 per cent, or 2. 48 points, to close at 2,217. 47. Shenzhen rose 0. 39 per cent, or 4. 57 points, to end at 1,177. 33. "If Poland is indeed right that Russia is about to increase its presence in the east of Ukraine, buyers of all things risk will disappear fast as this is an indefinable outcome for markets," IG strategist Evan Lucas told Dow Jones Newswires.

Philippine Long Distance Telephone slumped 2. 10 per cent to 3,084. 00 pesos, while Alliance Global eased 0. 18 per cent to 27. 60 pesos. — Taipei edged up 0. 03 per cent, or 2. 53 points, to 9,143. 97. TSMC rose 0. 84 per cent to Tw$120. 5 while Acer fell 2. 06 per cent to Tw$23. 75. — Wellington fell 0. 23 per cent, or 11. 94 points, to 5,092. 23. Contact Energy down 0. 90 per cent at NZ$5. 50 and Air New Zealand up 1. 04 per cent at NZ$1. 94.

On foreign exchange markets on Wednesday, the euro was hovering near an eight-month low against the US dollar in Asia on speculation that the European Central Bank (ECB) would hint at further stimulus after a policy meeting. The euro bought $US1. 3367 and 137. 08 yen in Tokyo afternoon trade against $US1. 3369 and 137. 20 yen in New York late on Tuesday.

Read more here: Business Spectator


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