Asian stocks mainly in RED
Asian stock markets opened the second month of trading mainly in negative territory. Australia's All Ordinaries lost 2.85% this morning, while Shanghai opened lower by 1.33% to tracking further correction in Wall Street last Friday. Hang Seng declined 0.87%, while Straits, Nike, and KOSPI at lower percentage. Jakarta's IDX opened lower by 0.81%.
Mining stocks hit All Ordinaries with BHP lost another 2.65%, while Rio Tinto conceded 3.36%. MacArthur crashed 11%, while Gloucester and Centennial dropped 5.52% and 4.5% respectively. Whitehaven Coal also lost 6.81% in Sidney. Straits Asia, which controls two coal mines in Kalimantan, opened lower by almost 1% on SGX, while China Coal and Shenhua declined by 2.7% and 1.5% respectively in Hong Kong.
Last Friday, US-listed coal stocks dropped substantially led by Arch Coal which crashed 14.14%, while Peabody Energy, the world's largest coal company in the private sector, lost 7%.
Oil and gas stocks also opened lower in the region with Woodside lost 5% in Australia, and Petrochina -2% in Hong Kong.
Plantation stocks opened lower in Singapore, led by First Resources' -3.7%. Indofood Agri also declined 1%, while GoldenAgri Resources -0.96%.
Labels: Stock Market