Financial markets declined in Asian session on Monday. Investors were disappointed by China’s economic growth in 1Q12. Concerns over sovereign debt problems in the Eurozone remained and the next focus is the upcoming G-20 meeting as whether non-EMU G20 members approve an increase in contributions to the IMF will be discussed. Commodity markets were weighed down by the world growth outlook. The front month contract for WTI crude oil slipped further, currently trading at a 3-day low of 102.22. It was also pressured by Saudi’s comments that it aimed to bring down oil prices. The equivalent Brent crude contract dropped to 120.11 in Asian session, the lowest level in 2 trading days.
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Asian Investors Disappointed by China’s GDP Growth
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