09 Apr 2012: Asian Stocks fall again, Chinese inflation accelerates

  • Asian equities retreat amidst thin trading: Asian stocks were under pressure again after China’s inflation figures.
  • Stocks: FTSE Asia Pacific has retreated 0.6%, while Tokyo fell again by 1.5%; Shaghai’s composite fell 0.9%, while Taiwan has also fallen 1.4% after small gains in the last session
  • Currencies: Yen is trading stronger against dollar at 81.36; Euro against dollar falls to $1.3072
  • Commodities: Brent Crude has lost 0.92% to sit at $122.29; Gold stays under $1650, and is at $1639; Copper is down over 1.5% to $3.73
  • Chinese inflation accelerates: The CPI rose 3.6% this March YoY, mainly from rising food and energy prices. This leaves Chinese officials with lesser room to counter signs of a broader slowdown in the economy.
  • BG group to invest in Brazil’s oil industry:The BG group is set to invest $2bn in R&D in Brazil’s oil industry with a view to becoming the country’s largest foreign producer.

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