Oil Retreats, But Libya Still Weighs : Asia Mixed

SINGAPORE - Asia stock markets mixed Friday in relief after oil prices retreated from record highs of several years if the crisis in the Middle East continues to hold off most buyers.
Japan Nikkei Stock Average rose 0.2%, Australia S & P / ASX 200 rose 0.1% 4812.4, South Korea Kospi Composite was off 0.1% and New Zealand was NZ-50 off 0.3%. Dow Jones Industrial Average futures rose 29 points on the trading screen.
The turmoil and uncertainty of Libya Muammar Gaddafi is a hold on power continued to temper market sentiment. Po 'of relief for investors, while oil prices retreated after the safety of the International Energy Agency that it is ready to release its oil reserves to cover any shortfalls resulting from the turmoil in the Middle East.
However, investors remained cautious as the situation in Libya remained fluid. "In general, the emphasis is always in Libya, where the situation does not seem to be improving. The increase in oil prices make investors nervous about the impact it will have on the global economy," said Khoon Goh, senior economist at ANZ Bank in Wellington. "With food prices already high level, the last thing the world economy needs is skyrocketing energy prices. This combination would certainly be a real challenge of inflation for central banks around the world, "said Goh.

April to end of NYMEX crude oil, which rose to a two and a half year high of 103.41 dollars a barrel on Thursday, was recently recovered 97.30 dollars a barrel, up two cents from Thursday in New near York.

Sydney, the advantage of the new benchmark three weeks down in early trading 4799.2, but has since managed to overcome these losses relief to retreat in crude oil prices. retreat in oil prices has contributed to the top of the market in Tokyo.

Australian financial stocks were significantly stronger, with ANZ Bank has increased by 0.6% and Westpac Banking 0.7%. Iluka jumped 5.7% after an unexpected dividend declaration and Woolworths advanced 0.5% after saying that he is surprised by the strength of its operations early in the second half.

BHP Billiton is trading ex-rights for his program off-market buyback of shares, fell 0.2%. Rio Tinto lost 0.9% and Oil Search dropped 1.4%.

"I do not see much potential downside for the Australian stock market here," said Jamie Spiteri, head of trading Shaw Securities Business.

In Tokyo, 25 of the 33 sub-indices were higher Topix. Toyota Motor rose 2.3% on an upgrade from Credit Suisse to overcome, despite a new U.S. memory.

Other exporters were mostly higher, with Nissan Motor up 0.9% from 0.5% and Sony.

Inpex dropped 2.1% less oil futures. Elpida Memory has increased by 3.1% after its chairman, reported an increase in the prices of DRAM chips next month.

The New Zealand share market slightly lower than the authorities continue with the arduous task of removing corpses from collapsed buildings after the devastating earthquake that struck the country's second city of Christchurch on Tuesday. The death toll from the 6.3 magnitude earthquake has risen to 113, with hundreds missing.

With the earthquake that another blow to the fragile economy, many investors have been reluctant to invest money in stocks.

Large securities firms were lower, with Auckland Airport fell 0.4%, Fletcher Building up 0.8% and 0.5% for Telecom.

The market in Seoul struggled despite a few purchases at the beginning of construction stocks and airline after their recent underperformance.

Hyundai Engineering & Construction rose 3.8%, GS Engineering & Construction added 2.0% and Korean Air Lines rose 2.5%.

Tech plays were mixed with 0.3% Samsung Electronics, LG Electronics, 0.8% and Hynix Semiconductor rose 2.1%.

The foreign exchange market, the Swiss franc and the yen was steady against the U.S. dollar as the turmoil in the Middle East has continued to keep the theme of air-safety play, although mild to ease risk aversion.

The euro also continued amid growing expectations for the widening of interest rate after several members of the European Central Bank commented on the hard line against inflation over the past week.

"Overall, regardless of the risk environment, it seems that markets just do not like the U.S. dollar," said RBC Capital Markets in a note to clients. "For the dollar to enter into an upward off some very strong economic data are needed quickly. "

The dollar, which sank to a record low against the Swiss franc to 0.9234 francs on Thursday, was recently at 0.9247 Swiss francs from 0.9264 Swiss francs late Thursday in New York, and Y81 0.90 against the yen from Y81.89.

The single currency was at $ 1.3809 and $ 1.3799 versus less Y113.20 Y112.99.

Lead futures Japanese government bonds rose 0.02 to 139.81 points on job security amid continued tensions in the Middle East course. Cash return of 10 years was stable at 1.225%.

Spot gold was at $ 1,404.20 per troy ounce, up $ 2.10 a new solution for York on Thursday.