Asian shares fell on Wednesday and oil prices hit lows
Asian shares fell on Wednesday and oil prices hit lows not seen since June after a rout in technology shares sank Wall Street for a third consecutive day and a major drugmaker paused testing of a coronavirus vaccine.
Global stock markets have recovered most of this year’s losses, but that was based largely on strong gains for tech stocks while other companies still are lower.
- The Shanghai Composite Index rose 0.3% to 3,264.19 and the Nikkei 225 in Tokyo added 0.6% to 23,173.89.
- The Hang Seng in Hong Kong was little-changed at 24,478.69.
- The Kospi in Seoul advanced 1.1% to 2,402.01.
- Sydney’s ASX-S&P 500 was little-changed at 5,875.70.
- India’s Sensex opened up 1% at 38,566.11.
- New Zealand and Bangkok advanced while Singapore and Jakarta declined.
- In energy markets, benchmark U.S. crude lost 16 cents to $37.89 per barrel in electronic trading on the New York Mercantile Exchange.
- The contract rose $1.29 on Wednesday to settle at $38.05.
- Brent crude, the international standard, declined 9 cents to $40.70 per barrel in London. It added $1.01 the previous session to $40.79.
- The dollar declined to 106.12 yen from Wednesday’s 106.18.
- The euro gained to $1.1825 from $1.1823.