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Oil refiners, airlines hurt
Asia stocks were mixed on Tuesday with investors keeping a close eye on soaring oil prices. Crude paused near record highs in Asia after surging nearly 4 dollars on supply concerns. Chinese oil refiner Sinopec slumped in morning trade. Shares in China's top e-commerce firm Alibaba.com remained in focus after Microsoft withdrew its bid for the company's major investor Yahoo. Alibaba is expected to post strong first quarter earnings late in the day. On the upside, Samsung gained over 2 percent. The electronics giant signed a deal with top rival Intel to cooperate on next generation chip technology. Market activity was generally quiet with Tokyo closed for a long holiday. Japan markets will re-open on Wednesday. Tyra Dempster, Reuters, Beijing. COMPANIES MENTIONED: SYMBOLS:
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Added: May 6, 2008 |
| Category: Business |
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