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| Version 0 | Version 1 |
|---|---|
| Lower oil prices hit Asian stocks | Lower oil prices hit Asian stocks |
| (35 minutes later) | |
| Asian markets have opened lower as the fall in the oil price appears to be weighing on investor sentiment. | Asian markets have opened lower as the fall in the oil price appears to be weighing on investor sentiment. |
| In Japan the benchmark Nikkei 225 lost 1.4% in the first 90 minutes of trade, shedding nearly 230 points to 15,893. | |
| In South Korea, the main index, the Kospi, lost 12 points at the open, or 0.6%, to start trading at 1,967. | In South Korea, the main index, the Kospi, lost 12 points at the open, or 0.6%, to start trading at 1,967. |
| Overnight on Wall Street, US stock indexes all ended lower. The price of US crude oil fell 3% in New York trade. | Overnight on Wall Street, US stock indexes all ended lower. The price of US crude oil fell 3% in New York trade. |
| The drop extended falls from the previous two trading sessions as investors' hopes that oil producers will agree to curb production at their meeting on 17 April fade. | |
| Oil prices hit a peak of $116 in June 2014, but have plunged over 70% since then because of oversupply and sluggish demand. | Oil prices hit a peak of $116 in June 2014, but have plunged over 70% since then because of oversupply and sluggish demand. |
| The producers' meeting later this month will take place in the Qatari capital, Doha. It will involve Opec and non-Opec members and will discuss freezing supply at January levels to help push the oil price back up. | The producers' meeting later this month will take place in the Qatari capital, Doha. It will involve Opec and non-Opec members and will discuss freezing supply at January levels to help push the oil price back up. |
| In Australia, the commodities-heavy market is also lower. | |
| The benchmark S&P/ASX 200 has lost 51 points or 1% to 4,944. | |
| Spotlight on rates | Spotlight on rates |
| The Reserve Bank of Australia, the country's central bank, will hold its monthly meeting on interest rates later on Tuesday. Australia's key lending rate is currently at a record low of 2%. The majority of economists polled by Reuters are expecting the central bank to keep rates on hold. | The Reserve Bank of Australia, the country's central bank, will hold its monthly meeting on interest rates later on Tuesday. Australia's key lending rate is currently at a record low of 2%. The majority of economists polled by Reuters are expecting the central bank to keep rates on hold. |
| Meanwhile, India's central bank will hold its monthly meeting on interest rates. | Meanwhile, India's central bank will hold its monthly meeting on interest rates. |
| With recent low inflation in India, analysts are forecasting the Reserve Bank of India may increase the costs of borrowing. | With recent low inflation in India, analysts are forecasting the Reserve Bank of India may increase the costs of borrowing. |
| Markets in China have also opened lower after Monday's public holiday. The Shanghai Composite slipped by 0.25% to open at 3,002 points. | |
| In Hong Kong the benchmark Hang Seng index, also fell, dropping more than 1%, or 280 points, and hovering around 20,215. | |
| Taiwan remains shut for a public holiday and markets there will re-open on Wednesday. | Taiwan remains shut for a public holiday and markets there will re-open on Wednesday. |