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Thursday, September 13, 2007

STOCKS NEWS ASIA-Asian ADRs fall 0.4 pct; Chalco drops

HONG KONG, Sept 13 (Reuters) - Asian stocks listed on Wall Street fell 0.4 percent as Japanese shares slipped after the surprise resignation of Prime Minister Shinzo Abe, but record high oil prices boosted energy shares.
Also under pressure, China's top alumina and aluminium producer Chalco slumped 9 percent after Alcoa Inc sold its stake in the Chinese firm.
Japanese stocks including Mitsubishi UFJ and electronics components maker Kyocera all lost ground.
Abe abruptly announced his resignation on Wednesday after a year in power dogged by scandals, an election rout and a crisis over Japan's support for U.S.-led operations in Afghanistan.
But oil and gas producer CNOOC gained 3.7 percent as oil hit a record high above $80 a barrel on tight U.S. inventories and potential supply disruptions from a tropical storm in the Gulf of Mexico.
U.S. stock indexes ended little changed on Wednesday, while MSCI's measure of Asia Pacific stocks excluding Japan advanced 0.5 percent.

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