Stock markets in Asia continue to decline due to the political crisis that continues to plague the Middle East. With the violent riots that have begun to affect Libya, oil prices continue to rise globally. Analysts have become concerned about the slowdown and that this situation will cause excessive growth of some few companies.
The major stock indexes in Asia, Nikkei of Japan, Hong Kong Hang Seng and Kospi of South Korea, have kept prices by 2% of what a few weeks ago they were. Another event, which recently hit the market has been the earthquake happened in New Zealand, whose country NZX 50 Index fell 0.7%.
Brent crude price increased 2.7% and is now at $ 108.1 per barrel, while the mix of New York reached $ 92.96 dollars. Oil prices are being altered due to speculation and uncertainty affecting the global market.
Analysts meanwhile hope the situation can be resolved soon, because otherwise we could face a new crisis with oil prices.
The companies most affected so far have been the Asian airlines, fuel consumption accounts for 40% of the cost of many of them. Singapore Airlines has dropped 1.7% in its shares while Korea Airlines 9% and Cathay Pacific Airways by 4.5%.
It is essential to consider oil as a vital resource, and no matter how the price continues to increase, companies will continue buying, and the same reflected this increase in large increases in their products and services.
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