GRANTS ASIA-PACIFIC declining, still accounts after Saudi property on oil – Reuters Italy

 CONTENTS HOURS 8.20% VAR  CLOSE. 2015 ASIA-PAC. TOKYO 15915.79 375.40 -1.25  411.31 -0.85 -1.30 21914.40 19161.75 19033.71 HONG  KONG SINGAPORE TAIWAN 8282.86 2882.73 2625.60  -1.74 -0 , 62 SEOUL 8114.26 1912.53 -0.09 1800.75  2929.57 0.90 2850.71 SHANGHAI COMP SYDNEY 4875.02  -2.10 -0.74 26117.54 23236.00 5295.86 MUMBAI 24  (Reuters) – stock markets in the  Asia-Pacific in sharp decline after Saudi Arabia  ruled out short-term cuts in production of crude  oil, encouraging investors to look for safer  alternatives such as the yen and gold. Yesterday,  the Saudi Oil Minister Ali Al-Naimi told some  industry executives that the agreement between the  four largest producers of crude oil to freeze the  production to the levels of January is not a  prelude to a reduction in supply. If Naimi said he  was confident that other producing countries will  join the pact, it remains highly unlikely that  Iran wants to cut production so as not to miss the  opportunity to regain market share lost during the  period of sanctions. “I suspect that few had  expected a deal to cut output, therefore, the  comments (for Naimi) are not exactly a surprise.  However, the latest developments seem to indicate  producers will struggle to be more united”  says Ayako Sera, senior market economist Sumitomo  Mitsui Trust Bank. In the wake of oil prices  falling, yesterday’s Wall Street closed in  negative and European shares were down 1.3%. The  forecasts in Europe are opening again in fall  today on the European markets. Oil prices have  also come down by 5% during the night. The futures  on US crude is at $    31.18 a barrel, while Brent  futures is $    32.82. The negative trend not only  touches the shares of energy companies, but also  banks, because of their exposure to the sector.  And according to a study by Deloitte, about a  third of US producers of shale oil they are at  risk of bankruptcy this year. The MSCI index,  which does not include Tokyo (down 0.9% at  today’s close), at 8.20 about lost 1.25%.  The Chinese markets still have reversed the trend  with the index of the leading companies in  Shenzhen and Shanghai, the CSI 300 who earns more  than 0.5%, while SHANGHAI 0.9% salt. HONG KONG  instead lost 1.33%, dragged down by energy stocks:  the HSCI sector iindce lost 2.4%. Prada sells more  than 1.9%. SINGAPORE is the worst place in the  region, and closed down more than 2%, the maximum  daily decline for two weeks. TAIWAN lost 0.6%,  also waiting for data on orders that could confirm  the continued weakness of the island economy,  traditionally export-oriented. SEOUL limits losses  due to lower gear, while MUMBAI declines at about  0.7%. It.reuters.com on site news Reuters in  Italian. We welcome comments on  www.twitter.com/reuters_italia