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COMMODITIES-Base metals, gold extend losses in Asia

COMMODITIES-Base metals, gold extend losses in Asia Global base metal and gold markets extended their losses on Thursday as big investment funds continued to shy away from the once roaring bull markets as concern mounts about rising interest rates and metal supplies. Analysts said interest rates hikes in the United States and other countries could choke growth and any drop off in metal demand would cap chances of an early recovery in prices. "We have possibly seen the all-time high and it might take some time to get back to the same levels again," said David Thurtell, an analyst with the

Asia’s energy thirst will stretch refiners

Asia's energy thirst will stretch refiners Asian demand for gasoline and other petroleum products is likely to outstrip refining capacity for the rest of the decade, even as new plants start up in countries like China, Caltex Australia said Thursday. Fuel demand started to exceed capacity in the region in about 2003 and is not likely to be met this decade, a trend that will bolster returns from oil processing, said the Caltex Australia chief executive, Dave Reeves. Australia may have to import 25 percent of its fuel supply by 2010 to prevent shortages, up from about 20 percent

Buying into metals to tap growth in Asia

Buying into metals to tap growth in Asia Joe Joseph, manager of the $1.5 billion Putnam International Capital Opportunities Fund, used the global drop in the equity markets since April to buy shares of metals companies that will benefit from Asias growth. Joseph bought more shares of Pacific Metals Co. and started buying a stake in Kagara Zinc Ltd. as investors fled commodities stocks on concern that central banks would slow economic growth by raising interest rates. The Morgan Stanley Capital International World Index has fallen 6.3 percent since April. The Putnam funds biggest positions include Tokyo Steel Manufacturing Co. and Hyundai

GLOBAL MARKETS-Metals boost mining stocks; Asia chip shrs gain

GLOBAL MARKETS-Metals boost mining stocks; Asia chip shrs gain Soaring commodities prices lifted mining stocks such as BHP Billiton (BHP.AX: Quote, Profile, Research), pushing Australia's main index to a record on Friday, and most other Asian share markets rose on gains in technology stocks. Gold matched a 25-year-high above $588 an ounce and platinum hit a record high as fund managers poured money into precious metals, while copper and zinc stayed close to new peaks reached on Thursday. "Fund operators are shifting back into metals ahead of the new quarter," said Koji Suzuki, market analyst at Livedoor Commodity Ltd. in Japan.

Good gains in Latin America, Asia

Good gains in Latin America, Asia Latin American bonds and Asian equities will give the highest returns in 2006, while US treasury yields are likely to decline, according to Deutsche Bank. ''Treasury bills will still be a good investment choice, but investment in [other] assets will enhance returns on one's portfolio,'' said Marshall Gittler, chief Asian strategist at Deutsche Bank. Interest-rate hikes by the Federal Reserve have reduced liquidity in the US financial market, resulting in an overpriced corporate bond market. Meanwhile, the credit standings of Argentina, Brazil and Venezuela have been improving, particularly with regards to the balance of payment