Libyan Conflict Causes The Asian Stocks To Drop Low

Violence in Libya

by Mike Crewmen

The Asian stocks have declined a lot and as a result, the benchmark regional index is at the lowest level this week. Libya has had problems with violence and many other things. The economy of Japan is also shrinking lower than what was estimated causing new fears to rise.

Chiyoda Corp is known as a very popular Japanese contractor and gets a lot of the revenue in Middle East and the percent in Tokyo dropped to around 2.9 which caused a lot of problems. Toyota Motor Corp also struggled and went down to around 1.4 percent. The Toyota Motor corp is known as one of the largest and biggest automakers in the world. The biggest mining company BHP Billiton LTD went down in Sydney to around 1.4 percent because of the copper futures falling and a lot of concern has been raised about the slow broth involving with higher energy costs.

Mitsushige Akino watches around $450 million in Tokyo with the Ichiyoshi Investment Management Co and he said that Libya right now is very chaotic and because of it being so chaotic there is a lot of uncertainty and doubt about the future with Libya and also the countries that surround Libya are also at a risk because they don’t know what might happen as a result of all these things going on right now.  Another thing that he said was right now the oil prices might change because of how the economy is getting damaged from all that is happening in Libya and the investors are deterring and putting in money into the stocks.

The Japan Nikkei 225 Stock Average also suffered and fell to exactly 0.5 percent. In the last three months since Dec. 31 ended the Japan has shrank to around 1.3 percent. This report for Japan does not look good and also is causing new questions to come about because of the drop that continues to go on each month.

The New Zealand Rate has also been changed. Part of this is because of the Christchurch earthquake. The South Korea Kospi Index lost at least 0.4 percent because of the quake and other reasons while New Zealand NZX 50 index actually increased to 0.2 percent. This only happened after the Nation’s central bank decided to lower the benchmark with the interest rate and decided to take a pledge with keeping the cost of borrowing low and help with the rebuilding of Christchurch.

Libya and so many countries right now are not sure what’s going to happen and until something does, there’s a lot of doubt, concern, questions and worst yet, fear in many people.

By: Teni Sow | Senior Editor at Tambapress.com and Regular Contributor to Presspresser.com

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Category: Finance