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Asia Stocks Echo U.S. Drop, oil Steady After Slide: Markets Wrap

Business Thursday 22/December/2016 12:17 PM
By: Times News Service
Asia Stocks Echo U.S. Drop, oil Steady After Slide: Markets Wrap

Japanese and Hong Kong equities led Asian declines, following a slide in U.S. stocks, while oil prices firmed after falling Wednesday for the first time in a week.
The MSCI Asia-Pacific Index slid after the Dow Jones Industrial Average weakened and failed to reach the much-heralded 20,000 mark amid thinner volumes in the lead up to year-end, although Australian and South Korean equities rose. The Bloomberg Dollar Spot Index remained lower after a 0.1 percent drop Wednesday, with the New Zealand dollar stronger following data that indicated faster-than-expected economic growth and the Swedish krona extended gains. Crude oil held above $52.50 a barrel after a report showing U.S. stockpiles increased drove it down Wednesday.