Oil prices fall, stocks Rise in Asian trading
Tokyo - (Saba):
Oil prices fell in early Asian trading on Wednesday, affected by the supply-demand imbalance following the OPEC+ production increase and ongoing concerns about the global economic outlook due to tensions stemming from tariffs.
Brent crude futures fell (5) cents, or (0.1%), to $65.58 per barrel, while US West Texas Intermediate (WTI) crude fell (9) cents, or (0.1%), to $63.32 per barrel.
In stock markets, most Asian markets recorded gains during trading on Wednesday, with South Korean stocks leading the region's gainers, with the main KOSPI index jumping 2.4% to reach a ten-month high.
China's CSI 300, which includes the largest companies listed on the Shanghai and Shenzhen stock exchanges, and the Shanghai Composite Index rose 0.5% and 0.3%, respectively, while Hong Kong's Hang Seng Index rose 0.6%.
In Australia, the ASX 200 rose 0.7%, despite weak GDP data showing a slowdown in economic growth during the first quarter due to weak spending and trade headwinds.
In Singapore, the Straits Times Index fell 0.3%, weighed down by losses in local banking stocks. Meanwhile, India's Nifty futures showed signs of a slightly positive opening after the index fell below the 25,000 level in recent sessions.
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