Looks like that today is not the day of the Asia-Pacific share-market. The stocks in Asia have slipped when oil prices were high and there is a reminder of rising inflation pressures. The U.S dollar struggled on fears about the potentially underfunded mortgage finance companies. The onslaught of higher commodity prices cited as a reason for high global inflation, showed no sign of letting up soon.
Sine there is tensions in Iraq and those tensions may hamper the oil supplies. When the oil supply is less, the price will be more and if crude prices go high, then many markets will be affected and one such is the Asian-market as well.
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