TOKYO: Asian stocks traded largely lower late Wednesday as a continued turmoil in commodity markets ignited “risk-off” sentiment.
Overnight, U.S. stocks settled modestly lower, reversing earlier gains of over 1 percent as materials and energy shares fell on lower commodity prices. Oil hit a near six-year low on Tuesday, extending losses after trading lower for seven straight weeks. U.S. crude settled down 18 cents at $45.89 a barrel, its lowest level since April 2009, while Brent crude was down $1 at $46 a barrel. So far this week Brent is down 8 percent and U.S. crude down about 5 percent.
Read More Oil falls below $45 as OPEC plays hardball As a result, the Dow Jones Industrial Average fell 0.2 percent, after a near 300-point rally. The S&P 500 shed 0.3 percent, while the tech-heavy Nasdaq declined 0.1 percent. Also likely to damp sentiment is news that the World Bank lowered its global growth forecast for 2015 and 2016 on Tuesday. The global development leader predicted the global economy would grow 3 percent this year, lower than the 3.4 percent forecast it made in June, with disappointing economic prospects in the euro zone, Japan and some major emerging economies likely to offset the benefit of lower oil prices.
shanghai shares start week with losses 25 june 2018
Hong Kong, (UrduPoint / Pakistan Point News - 25th Jun, 2018 ) :Hong Kong and mainland Chinese stocks fell on...
