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| Version 3 | Version 4 |
|---|---|
| Lower oil prices hit Asian stocks | Lower oil prices hit Asian stocks |
| (about 1 hour later) | |
| Many Asian markets fell on Tuesday as the decline in the oil price appeared to weigh on investor sentiment. | Many Asian markets fell on Tuesday as the decline in the oil price appeared to weigh on investor sentiment. |
| In Japan, the benchmark Nikkei 225 closed down 2.4% at 15,732.82, the sixth session in a row that the index has fallen. | In Japan, the benchmark Nikkei 225 closed down 2.4% at 15,732.82, the sixth session in a row that the index has fallen. |
| In South Korea, the Kospi index closed down 0.8% at 1,962.74, the lowest close in a month. | In South Korea, the Kospi index closed down 0.8% at 1,962.74, the lowest close in a month. |
| US stocks ended lower on Monday after the price of US crude oil fell 3% in New York trade. | US stocks ended lower on Monday after the price of US crude oil fell 3% in New York trade. |
| The drop extended falls from the previous two trading sessions, as hopes faded that oil producers would agree to curb production at their meeting on 17 April. | The drop extended falls from the previous two trading sessions, as hopes faded that oil producers would agree to curb production at their meeting on 17 April. |
| Oil prices hit a peak of $115-a-barrel in June 2014, but have plunged by more than 70% since then because of oversupply and sluggish demand. | Oil prices hit a peak of $115-a-barrel in June 2014, but have plunged by more than 70% since then because of oversupply and sluggish demand. |
| The oil 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 oil 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. |
| Spotlight on rates | Spotlight on rates |
| In Australia, the benchmark S&P/ASX 200 fell 70.92 points, or 1.4%, to 4,924.40. | In Australia, the benchmark S&P/ASX 200 fell 70.92 points, or 1.4%, to 4,924.40. |
| Shares of Australian energy producers Santos and Woodside Petroleum both fell more than 3%, under pressure due to the slide in oil prices. | Shares of Australian energy producers Santos and Woodside Petroleum both fell more than 3%, under pressure due to the slide in oil prices. |
| The Reserve Bank of Australia, the country's central bank, left its key lending rate at 2% following its monthly meeting. The decision to keep rates at the record low had been widely expected by economists polled by Reuters. | The Reserve Bank of Australia, the country's central bank, left its key lending rate at 2% following its monthly meeting. The decision to keep rates at the record low had been widely expected by economists polled by Reuters. |
| Meanwhile the Reserve Bank of India trimmed its key lending rate to commercial banks to 6.5% from 6.75%. The central bank governor there, Raghuram Rajan cites a fall in inflation for the latest rate cut. This is India's first rate cut this year. | Meanwhile the Reserve Bank of India trimmed its key lending rate to commercial banks to 6.5% from 6.75%. The central bank governor there, Raghuram Rajan cites a fall in inflation for the latest rate cut. This is India's first rate cut this year. |
| In Hong Kong, the benchmark Hang Seng index fell 1.6% to 20,177.00, while China's Shanghai Composite index rose 43.54 points, or 1.5%, to 3,053.07. | |
| 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. |