Asian stocks mixed amid oil slump; China trade data eyed
Jan 13, 2015, 07.59 AM IST | Source: CNBC
sian shares were mixed early Tuesday, despite a sell-off on Wall Street overnight as global oil markets tumbled to near six-year lows. US stocks lost ground on Monday, extending a two-week decline, as worries about falling oil prices took hold before the start of quarterly earnings.
US stocks lost ground on Monday, extending a two-week decline, as worries about falling oil prices took hold before the start of quarterly earnings.
Oil prices slumped more than 5 percent overnight, extending the second-deepest rout on record, after Goldman Sachs slashed its short-term price forecasts and Gulf producers showed no sign of curbing output. US crude settled down USD 2.29 at USD 46.07, its lowest settlement since April 2009. Brent crude was last down about USD 3 to USD 47.24 a barrel, after dropping as low as USD 47.18, its lowest level since March 2009.
As a result, the Dow Jones Industrial Average ended down 0.5 percent, while the S&P 500 shed 0.8 percent, with the energy sector leading declines. The tech-heavy Nasdaq declined 0.8 percent. Meanwhile, the CBOE Volatility Index, a measure of investor uncertainty, jumped nearly 12 percent to 19.60.
China will release trade figures for last month on Tuesday. Imports are expected to fall 6.6 percent on year after shedding 6.7 percent in November. Exports are called higher by an annual 5.9 percent after gaining 4.7 percent in the previous month. The trade surplus may have narrowed to USD 48.0 billion in December, from USD 54.47 billion a month earlier, as growth in exports was outweighed by sharper slide in imports.
Asian stocks mixed amid oil slump; China trade data eyed
Post a Comment