Asian Market Update : Epic Research Malaysia

Australian mining companies led losses in Asian mining and energy firms Tuesday, with Australian giant BHP Billiton sitting at a 10-year low, as metals prices slip further on slack demand and a strong dollar.

Traders tracked losses in New York and Europe as concerns about the global economy returned, particularly the sharp growth slowdown in China, a crucial buyer of commodities.

Producers took a hit as the price of copper sank to a six-year low below US$4,500 a tonne Monday, nickel was at its lowest for more than a decade, and zinc and silver declined.

Oil prices saw a pick-up in early Asian trade but remain subdued owing to a supply glut and continued overproduction.

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