The Traderszone Network

Published in TZ Latest News 1 February, 2016 by The TZ Newswire Staff

Asian shares slip as crude resumes drop

Asian shares wobbled on Tuesday as crude oil prices slid on rekindled oversupply fears and after downbeat manufacturing data raised concerns about global momentum. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.2 percent, while Japan’s Nikkei (.N225) slipped 0.7 percent. U.S. crude oil (CLc1) was down about 0.8 percent at $31.38 a barrel after skidding as much as 7 percent overnight, pressured by weak economic data from China, a U.S. forecast for mild weather and doubts suppliers would be able to agree on steps to address the global supply glut.