NTDTV
Market Report – Miner Rio Tinto Rises
(NTDTV)
Mining company Rio Tinto rose today on higher commodity prices, despite its China woes.
Chinese authorities arrested four Rio staff on Sunday, including its top iron ore salesman, and the case has sparked warnings of a trade crisis.
Meanwhile, Rio’s rival, BHP Billiton, also gained, helping Asia to claw back some early week losses.
Japan appeared to be heading towards deflation again as prices fell, while South Korea hiked its economic forecast after the fastest quarterly growth in over five years.
The Nikkei hobbled near a 7-week low despite the yen’s easing against the dollar, and is up less than 5 percent this year, compared to a 70 percent jump in Shanghai’s benchmark.
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