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Asian
stocks fall in early morning trades
Hong Kong: Asian stocks fell today morning on heavy
selling of tech shares like Samsung Electronics after
the world's largest computer maker, Dell Inc. warned of
a slowdown in the computer market.
In
early morning trading Tokyo stocks had fallen 1.29 percent
as chip equipment maker Tokyo Electron fell 3.24 percent,
Canon Inc. fell 1.67 percent and Internet conglomerate
Softbank fell 3.39 percent.
Australia's
key S&P/ASX 200 index dipped 0.79 percent on weakness
in the major miners such as BHP Billiton following falls
in base metal prices.
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Oil
eases
Sydney: Oil eased a bit today morning due to diplomatic
efforts to resolve conflict in the Middle East, but stayed
above $74 as the Middle East violence continued.
U.S.
crude for September fell by 14 cents to stand at $74.29
a barrel. London September Brent crude was down 8 cents
at $73.67 a barrel on conciliatory noises coming from
Lebanon and Syria.
U.N.
officials demanded a halt to the violence to allow aid
to reach desperate civilians.
But
Syrian Deputy foreign minister Fayssal Mekdad said Syria
was ready for dialogue with the United States and wanted
an immediate ceasefire, followed by diplomacy to end the
war. Saudi Arabian officials are also urging President
Bush to go for a ceasefire.
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Doha
Round breakthrough stays out of sight
Geneva: Trading powers failed to achieve a breakthrough
at a marathon first session, diplomats say. Brazil, India,
Japan, the European Union and the United States are in
Geneva to try to save the Doha Round of World Trade Organisation
(WTO) trade talks. However after 14 hours of negotiations,
chaired by WTO chief Pascal Lamy, the countries failed
to advance in the key area of farm subsidies, an area
where the United States is under pressure to make further
concessions.
The
countries have decided to meet again on Monday to see
if there is any change in their respective positions.
The
United States has been insisting that the European Union
(EU) and other WTO members should go further in agreeing
to lowering farm tariff barriers before it moves further
on subsidies.
Lamy
has set a further two days of talks for July 28 and 29.
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