Energy shares such as BHP Billiton and Inpex Corp. were dragged down in the resource sector in Asia Thursday after a steep decline in crude-oil prices and job losses in the U.S. added to fears about worsening economic conditions.

Asian share markets were taking their cue Thursday from a sharp fall on Wall Street, as concerns were reignited about the outlook for corporate earnings and the health of the broader U.S. economy.

European Shares Weaker In Early Trading

Asian shares were solidly higher Wednesday after another gain on Wall Street, with resource stocks powering ahead on a recovery in prices for base metals and gold.

Asian metal and mining stocks such as Rio Tinto and Sumitomo Metal Mining Co. climbed Wednesday on an increase in nonferrous metal prices, disregarding Alcoa Inc.â??s decision to slash jobs and curb output in response to the global economic downturn.

A Wall Street Journal article published today (1/7/09) talks about recent efforts of steel producers around the world to open up select mills, in a sign that the market for steel may have bottomed. From their mid-2008 highs, steel and iron ore prices have slipped 40% as a weakening global economy and financial crisis has slowed demand for cars, houses and other durable goods. However, there are many factors that suggest that this commodity, so heavily correlated to economic activity, may have bottomed and may gain steam in 2009. Since the decline in global steel prices, producers have been quick to cut production. Several global steel/iron ore producers such as ArcelorMittal (MT), AK[More...]

With BHP Billiton Ltd. (BHP), it’s a case of the strong getting stronger and possibly even running away from the pack. Back in 2001, BHP Ltd. and Billiton PLC merged to form BHP Billiton Ltd., the world’s leading diversified resources group. And it never looked back. Now, the lowest-cost natural-resources producer with the broadest ...

With BHP Billiton Ltd. (NYSE ADR: BHP), it’s a case of the strong getting stronger and possibly even running away from the pack.

Back in 2001, BHP Ltd. and Billiton PLC merged to form BHP Billiton Ltd., the world’s
leading diversified resources…

2008 has been a very difficult year for investors. And most are eager to put it behind them while hoping for a better 2009. I don't have a crystal ball. But I believe there are five powerful trends that ...[More...]

By Horacio Marquez Contributing Editor Money Morning With BHP Billiton Ltd. (NYSE ADR: BHP), it’s a case of the strong getting stronger and possibly even running away from the... Money Morning is here to help investors profit handsomely on this seismic shift in the global economy. Money moves markets. But Money Morning lets you move first. <img src="http://feeds.feedburner.com/~f/USMoneyMorning?i=5Rli5A.O"[More...]

Companies featured in this segment: DuPont (NYSE:DD), Braskem's (NYSE:BAK), Petrobras' (NYSE:PBR), Dow Chemical Company (NYSE:DOW), Huntsman Corporation (NYSE:HUN), General Electric (NYSE:GE), BHP Billiton (NYSE:BHP), Rio Tinto (NYSE:RTP), Del Monte Foods Company (NYSE:DLM), Akzo Nobel N.V. (OTC:AKZOY), Petra Diamonds Limited (LSE:PDL), Babcock & Brown Limited (ASX:BNB), and Tosoh Corporation (TYO:4042)

Companies featured in this segment: General Electric (NYSE:GE), The Coca-Cola Company (NYSE:KO), The Procter & Gamble Company (NYSE:PG), BHP Billiton (NYSE:BHP), Fluor Corporation (NYSE:FLR), Dominion Resources Incorporated (NYSE:D), Leucadia National Corporation (NYSE:LUK), ArcelorMittal (NYSE:MT), Tata Motors Limited (NYSE:TTM), HSBC (NYSE:HBC), BASF Corporation (OTC:BASFY), Canam Group Incorporated (TSX:CAM), and Solvay S.A. (OTC:SVYSY)

Companies featured in this segment: Alexandria Real Estate Equities (NYSE:ARE), Hormel Foods Corporation (NYSE:HRL), Pilgrim’s Pride Corporation (NYSE:PPC), Tyson Food (NYSE:TSN), Energy Incorporated (NYSE:TE), Suhail Bahwan Group Holding LLC, Mitsubishi Heavy Industries Limited (TYO:7011), Orascom Construction Industries (CAI:OCIC), Daewoo Engineering & Construction Company (SEO:047040), Total S.A. (NYSE:TOT), Hyundai Engineering & Construction Company Limited (SEO:000720), Hanwha Corporation (SEO:000880), Daewoo International Corporation (SEO:047050), Hanwha Corporation (SEO:000880), Daewoo International Corporation (SEO:047050), International Paper (NYSE:IP), Energy Resources of Australia Limited (ASX:ERA), Rio Tinto (NYSE:RTP), BHP Billiton Limited (NYSE:BHP), Mega Uranium Limited (TSX:MGA), and Cameco (NYSE:CCJ)

Schaeffer's analyst Colleen S. King takes a look at news on the Street before the market open.

Companies featured in this segment: Praxair Incorporated (NYSE:PX), Valero Energy Corporation (NYSE:VLO), China National Petroleum & Chemical Corporation (NYSE:SNP), Tanganyika Oil Company Limited (TSX:TYK), U.S. Steel Corporation (NYSE:X), BHP Billiton (NYSE:BHP), Rio Tinto plc (NYSE:RTP), Mitsubishi Corporation (TYO:8058), Arch Coal Incorporated (NYSE:ACI), ThyssenKrupp (FRA:TKA), United Technologies Corporation (NYSE:UTX), Boeing Company (NYSE:BA), Rolls Royce Group plc (OTC:RYCEY), General Electric Company (NYSE:GE)