New York - US stocks edged lower Monday for the first decline in four days, after a key economic gauge declined and oil prices rose.

The private Conference Board's leading economic index dropped 0.1 per cent in June. Crude oil prices gained more than 2 dollars to close above 131 dollars per barrel in New York, after hitting a six- week low last week.

Health company shares dropped after a popular cholesterol drug sold by Merck & Co and Schering-Plough Corp was linked to cancer by new research.

Financial stocks fell despite better-than-expected quarterly results reported by Bank of America.

New York  - US stocks edged lower Monday for the first decline in four days, after a key economic gauge declined and oil prices rose.

The private Conference Board's leading economic index dropped 0.1 per cent in June. Crude oil prices gained more than 2 dollars to close above 131 dollars per barrel in New York, after hitting a six- week low last week.

Health company shares dropped after a popular cholesterol drug sold by Merck & Co and Schering-Plough Corp was linked to cancer by new research.

Frankfurt  - After a strong start to the year, German economic growth has lost momentum in recent months, the nation's central bank said in its monthly report released Monday.

While the Bundesbank stepped back from predicting a second-quarter growth rate, the Frankfurt-based bank said it expected a slumping building sector as well as weak private consumption and a fall in exports to have undercut the performance of Europe's biggest economy.

Bangkok - Thai shares jumped 3.4 per cent on Monday, propped up by growing confidence in the economy after a reduction in oil prices.

The Stock Exchange of Thailand (SET) index ended at 687.30, up 22.78 points, or 3.43 per cent, on 14.5 billion baht (433 million dollars) worth of trading.

"Investors came back to the market to snap up shares cheap, but this is not necessarily a sign that the market is on the rebound for the long term," said Mongkol Puanghaetha, an analyst at Adkinson Securities.

He noted that the volume of trade was low, at only 14.5 billion baht, suggesting that many investors have take a wait-and-see stance after the sharp slump in share values last week.

Hong Kong  - Banking stocks led a resurgence in share prices Monday after the benchmark Hang Seng index in Hong Kong rose 3.1 per cent to post its largest single-day gain since early April. The index closed 658.7 points up at 22,532.9, the highest level since June 25.

HSBC Holdings led the charge, closing 4 per cent up at 124.80 Hong Kong dollars (16 dollars). This followed reports the bank has held talks with a Chinese state-controlled investment fund about a possible investment deal.

The Bank of East Asia rose 3.04 per cent to end the day at 37.40 Hong Kong dollars.

Property stocks also made significant gains after government figures showed the number of homes on the market fell to a record low in the first half of this year.

Seoul - Shares rallied Monday on the Seoul stock exchange as lower oil prices prompted investors to hunt for bargains after recent losses.