Energy Credit Trading
July 14th, 2008
Question: Asian Energy Stocks Fall, Led by PetroChina?
(Bloomberg, Aug 15, 2006) — Asian energy stocks fell the most in almost a month, led by PetroChina Co. and Woodside Petroleum Ltd., after a cease-fire in Lebanon pushed oil prices lower.
The Morgan Stanley Capital International Asia Pacific Index was little changed at 127.01 as of 11:40 a.m. in Tokyo. Energy stocks had the biggest percentage drop among the measure’s 10 industry groups.
“The cease fire in the Middle East is part of the reason why the oil price was weaker,” said Tim Barker at BT Financial Group, which manages and advises on the equivalent of $54 billion including resources stocks. “Oil stocks continued to trade in line with it.”
Japanese non-bank finance companies that issue credit cards including Orix Corp. rose after the Nihon Keizai newspaper said the government may exempt some small loans from a planned interest rate cap. Sony Corp. slid after Dell Inc. source:http://www.zoomchina.com.cn/index.php?/content/view/11202/1/
Answer: OK. What is your question? And what is the pertenance of the last paragraph?
Let me assume that your question might be is this a good time to buy Petro China?
Answer: Wait a few days and see if it falls further. If you will notice, oil stocks are subject to swings in price than normally last
at least a month. The current upswing has been running 2 1/2 months. It is due for a correction. Might fall back to at least 90.
Wall Street stocks slip as energy fears take precedence
Stocks on Wall Street failed to hold on to the slight gains made during most of the trading session. Energy and technology companies led the declines even as data on home prices and consumer confidence met expectations, boosting some domestic stocks. Chevron and Schlumberger led declines in 36 of 39 energy companies in the S&P 500 Index as a stronger dollar left oil little changed after four …
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