Oil’s deepening slump continued to weigh on energy shares, dragging American stocks lower and setting up a mixed start to the Asian equity-trading session.
Brent crude slid beneath $45 a barrel to join West Texas Intermediate in a bear market as stockpiles in America remain above seasonal averages and Libya resumed some production. Futures on Japanese stocks indicated a flat start, while Australian and Hong Kong equity-index contracts climbed. The New Zealand dollar rose after the nation’s central bank maintained its neutral policy stance. Saudi Arabian stocks jumped the most in two years after King Salman made his son next in line to the throne of the world’s biggest oil exporter.
The oil rout is raising the chance that the inflation will be harder to come by, adding to concerns at the world's most influential central banks.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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