Asian shares set to dip as oil tops $100

Asian shares set to dip as oil tops $100
SINGAPORE -- Asian stock indexes were headed for a flat to weaker start on Wednesday after a jump in oil prices to a record high above $100 a barrel renewed fears about consumer spending and economic growth

Asian shares set to dip as oil tops $100
SINGAPORE -- Asian stock indexes were headed for a flat to weaker start on Wednesday after a jump in oil prices to a record high above $100 a barrel renewed fears about consumer spending and economic growth. Along with the spike in US crude prices of other commodities from platinum to soybeans surged to all-time peaks amid supply problems.Fuel cost-sensitive stocks such as airlines and transport companies were expected to come under pressure, but resource stocks such as miner BHP Billiton were likely to benefit from higher prices.

US stocks fell on Tuesday on the back of the spike in crude oil prices, erasing an earlier rally on concern that higher energy costs could fan inflation and crimp consumer spending and profits.
The Bank of New York's index of leading Asian ADRs outperformed, gaining 1.7 percent as US listed shares played catch up with gains made in Asian trade earlier in the week. US markets were closed for a holiday on Monday.

What can we do this news? Our recommendations in the mining sector, especially in Mexico where is doing very well. It is important to clarify that all the stock market when down in November and December. There is no a single stock from our portfolio that was not affected. But, now they are recovering and going in the same track as we expected.

Continue with our recommendations.

Juan Muñoz
Editor
ADRTRADERS.COM