4/18/2016, 7:54 AM (Source: TeleTrader)
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Asian markets rattled by failure in Doha

Trading week in Asia-Pacific region started on the heels of the failed oil production summit in Doha, Qatar. Energy sectors in many markets suffered losses following an instant drop in oil prices of more than 4%, after oil-producing countries missed a rare opportunity to settle the differences and stabilise oil market from both oversupply and volatile prices. Inpex, Oil Search, Santos were among those losing on weak oil.

The international benchmark Brent fell 4.22% to $41.34 a barrel, with daily low of $40.16 a barrel. The U.S. light crude WTI fell 4.78% to $38.63 a barrel (low at $37.64 a barrel) by 7:33 a.m. CET, after both key crudes tried and failed to gain in previous hours on the news of oil workers' strike in Kuwait.

In Sydney, the ASX All Ordinaries fell 0.45% to 5,200 points. Additional pressure came from Australian Bureau of Statistics' data showing a further weakness in passenger vehicle sales, despite an uptick of 0.1% in March.

Earlier in Wellington, the S&P/NZX inched up 0.01% to close at 6.845 points. The consumer price index rose 0.2% in the first quarter, following a fall of 0.5% in the previous quarter. Cigarettes, food, housing-related costs faced lower prices of petrol and airline fares, according to data from Statistics New Zealand.

In Japan, the Nikkei 225 index was leading the region in losses, falling as much as 3% to 16,338 points. The Topix performed just a bit better, dropping 2.78% to 1,323 points.

In Seoul, the Kospi index dropped 0.33%, while the Kosdaq inched down 0.02%. The Korean government will extend the trading hours of the foreign exchange market by up to 30 minutes, in an apparent response to the 30-minute extension of the domestic stock trading hours, according to Yoo Il-ho, Deputy Prime Minister for Economic Affairs and Minister of Strategy and Finance.

In China, the Shenzhen Composite fell 1.85% to 1,941 points, while the wider Shanghai Composite index dropped 1.58% to 3,029 points. In Hong Kong, the HSI rolled down 1.36% to 21,027 points by 7:35 a.m. CET.

In Mumbai, the BSE Sensex traded calmly, up 0.49%, and the Nifty 50 added 0.52% to 7,891 points, with Infosys expectedly jumping 6.49% after a good earnings report on Friday.

Breaking the News / ZR