Resources, Arrow Energy Up

Posted by admin on Mar 8th, 2010 and filed under Business. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

Resources, Arrow Energy Up SINGAPORE -- Asian share markets were mostly higher Monday with resource-related stocks in the region gaining on higher commodity prices and Australia's Arrow Energy surging on corporate action. "Positive noises about Greece and better (than expected) U.S. nonfarm payrolls brings risk back on the table," said Khoon Goh, senior economist at ANZ bank in Wellington. "The bulls are back in business," said DMG technical analyst James Lim in Singapore. "The consolidation period is now over and the trend has turned positive." Japan's Nikkei 225 was up 1.7%, Australia's S&P/ASX 200 was up 0.8%, South Korea's Kospi Composite was 1.2% higher, China's Shanghai Composite was up 0.8%, Hong Kong's Hang Seng Index gained 2.0% and India's Sensex was up 0.9%. Dow Jones Industrial Average futures were up five points in screen trade. Resources plays were broadly up in the region as metals and crude oil prices held most of their gains after rising on Friday on the better-than-expected U.S. jobs data. In Australia, BHP Billiton rose 2.[Read more...]

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