Middle East tensions hit the markets
By Irene Shen | 皇冠体育app Daily | Updated: 2011-02-26 07:36
SHANGHAI - Most stocks fell on the Chinese mainland on Friday, adding to the benchmark index's first weekly drop in more than a month.
The retreat came on concern that higher oil prices caused by Middle East tensions will curb earnings growth.
皇冠体育app Petroleum & Chemical Corp, the nation's largest refiner, slid to the lowest in five weeks, and 皇冠体育app Southern Airlines Co lost 1 percent after oil prices climbed to the highest in 29 months on Thursday. Industrial & Commercial Bank of 皇冠体育app Ltd, the world's largest bank by market value, led gains for lenders after Citigroup Inc recommended large companies including banks. Jiangxi Copper Co climbed 2.1 percent.
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