Asian stock markets down on lower oil prices
Posted Jan 21, 2016 04:49:43 AM.
This article is more than 5 years old.
Asian stock markets tumbled today as oil drifted lower and sentiment remained fragile following big swings on Wall Street.
Tokyo’s Nikkei index lost 2.4 per cent, Hong Kong’s Hang Seng fell 1.8 per cent and China’s Shanghai index fell 3.2 per cent.
The I-M-F lowering its forecast for global growth this year to 3.4 per cent, oil falling below 30-dollars a barrel U-S, and China’s growth slowing to a 25-year low last year have all contributed to the sell-off this week.
The Bank of Canada yesterday said it would hold its trendsetting policy rate at 0.5 per cent, and the European Central Bank is also expected to keep ultra-low interest rates on hold when its governing body meets today.
