Asian markets rise for fourth day on easing oil prices

E-MAILED (RTTNews) - The stock markets across the Asia-Pacific region were trading mostly higher on Thursday, extending their gains for a fourth day. Wall Street's extended gains overnight and a further drop in oil prices eased investor concerns about inflation and credit markets. Financial stocks rose on hopes that the troubled U.S. mortgage lenders, Freddie Mac and Fannie Mae, would receive emergency government funding. However, weaker commodity prices weighed on the resources sector. Crude oil prices fell by nearly $4 to a six-week low at $124.19 a barrel in U.S. trading overnight after government data showed that gasoline stocks rose far above analysts forecasts, as high prices and economic turmoil lowered demand for fuel. Oil is currently down 41 cents at $124.03 a barrel in the Asian session. On the currency front, the... [read full story]