A summary now on the economic situation across Asia.
Shares in Asia fell early Wednesday after two straight days of gains. That’s being driven by volatile oil prices and continued concern over the spread of the coronavirus.
Japan’s Nikkei 225 slipped 0.7%, South Korea’s KOSPI fell 0.8% nd Hong Kong’s Hang Seng index dipped nearly 0.3%. The early losses in Asia followed declines in the US overnight with the Dow down 0.1%, S&P 500 off 0.2% and the Nasdaq Composite 0.3% lower.
Continued uncertainty on oil production plans by Russia and Opec leader Saudi Arabia has seen volatile trade with global benchmark Brent crude up 2.3% in early Asia at $32.59 per barrel after a 3.6% decline overnight.
A meeting on Thursday between Opec and ally Russia may move to curb production, after a failure to agree on cuts in March sent oil into a tailspin.