A small recovery in commodities and a rally in companies that make consumer staples like toilet paper and pasta helped the financial markets reverse a decline yesterday to end the day with modest gains. Consumer staples and health care led the market due in part to concerns that high gas prices will erode consumer spending [...]

OIL rose yesterday in volatile trading to settle near US$99 per barrel, with a weaker dollar offsetting concerns about a slowdown in world demand. Benchmark crude for June delivery gained 76 cents to settle at US$98.97 per barrel on the New York Mercantile Exchange. Oil has swung wildly this week – between US$95 and US$104 [...]

HONG Kong’s government yesterday sold a site close to the Peak luxury residential area and two other plots above analyst estimates, signaling developers are confident efforts to cool prices won’t damp demand for high-end homes. Sun Hung Kai Properties Ltd bought the site on Stubbs Road on Hong Kong Island for HK$4.49 billion (US$578 million), [...]