03 Mar '11, 12pm

Analysts: Crude oil prices hitting US$120 a barrel may dent Asian economic growth.

SINGAPORE : Analysts say that if oil prices reach US$120 a barrel, they could shave off as much as 1.5 percentage points from Asia's projected economic growth of 8 percent this year. Higher crude and commodity prices will raise the cost of raw materials that companies in Asia import. With governments in Asia turning hawkish on inflation, these increased costs may be hard to pass on to consumers. Analysts say investors will do well to select their emerging-market investments carefully. Surging oil prices are giving a headache to Asian policy makers who are already battling high inflation. Currently, the economies most exposed to rising commodity prices are Indonesia, India and the Philippines. Equity investors in these countries have reasons to be wary. Analysts say the market returns that were being projected at the start of the year may not materialise. Sanjay Mathur, Hea...

Full article: http://www.channelnewsasia.com/stories/economicnews/view/...

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