Asian indices extended Tuesday’s selloff early Wednesday, taking cues from an uninspiring finish on Wall Street overnight and brushing off a modest recovery in oil prices.
U.S. equities ended mixed on Tuesday, with the Nasdaq Composite rallying after stiff losses, as investor concern about the global economy ebbed. The Dow Jones Industrial Average ended down 0.3 percent, while the S&P 500 shed half a point to 2,059.82.
Overnight, brent prices finished higher after touching a five-year low and five straight days of losses, while U.S. crude also rose as players sought a sustainable price for oil in a market haunted by oversupply concerns. Brent settled at $66.84 a barrel while U.S. crude finished at $63.82 a barrel.