Asian Stocks Advance, Oil Prices Higher
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Asian Stocks Advanced, Asian Stocks Oil Prices, Asian Stocks OPEC, Asian Stocks South Korea, Financial Crisis,
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Bloomberg News:
Asian stocks advanced, boosting the benchmark index for a second day, after South Korea's government guaranteed bank debt and a possible output cut by OPEC drove oil prices higher.
Shinhan Financial Group Ltd., South Korea's second-largest financial company, rose 3.3 percent, snapping a three-day slump. BHP Billiton Ltd., Australia's biggest oil producer, climbed 5.1 percent on speculation the Organization of Petroleum Exporting Countries will reduce output targets at its meeting this week to support prices. Panasonic Corp. jumped 6.9 percent on a report profit will exceed the company's estimate.
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First Posted: 10-19-08 09:10 PM | Updated: 11-19-08 05:12 AM