Asia stocks decline as US crude claws back some losses [MSNBC.com]
NATL AUSTRALIA BK S/ADR (NABZY)
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Source: MSNBC.com
Stocks in Asia Pacific declined in Wednesday morning on the back of sharp losses in the oil markets overnight.In Japan, theNikkei 225South Korea's Kospi also dropped 1.3% while the Kosdaq index shed 1.1%. Over in Australia, theS&P/ASX 200Overall, the MSCI Asia ex-Japan index traded 0.34% lower.In the oil markets, the June contract forWest Texas IntermediateThat came on the back of the May contract for WTI — which expired Tuesday — sliding into negative price earlier this week, meaning traders would pay for others to take the oil off their hands. The May contractclawed back into the blackMeanwhile, internationalBrent crude futures"The oil reality check has triggered a reassessment across risk assets," Rodrigo Catril, senior foreign exchange strategist at National Australia Bank, wrote in a note.
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