The Traderszone Network

Published in TZ Latest News 15 June, 2014 by The TZ Newswire Staff

Asian shares slump, oil firms as market eyes Iraq

Asian shares got off on the back foot on Monday, as crude extended gains and tested nine-month highs on fears the insurgency in Iraq could worsen and affect oil exports. Sunni insurgents seized a mainly ethnic Turkmen city in northwestern Iraq on Sunday, while the United States boosted security for its diplomatic staff in Baghdad said some staff had evacuated the embassy. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was slightly lower in early trade, moving away from a three-year high hit a week ago.