Asian shares opened mixed on Wednesday as investors shrugged off a negative finish on Wall Street, while the ongoing meltdown in oil markets damped sentiment.
Overnight, U.S. stocks settled modestly lower, reversing earlier gains of over 1 percent as materials and energy shares fell on lower commodity prices.
Oil hit a near six-year low on Tuesday, extending losses after trading lower for seven straight weeks. U.S. crude settled down 18 cents at $45.89 a barrel, its lowest level since April 2009, while Brent crude was down $1 at $46 a barrel. So far this week Brent is down 8 percent and U.S. crude down about 5 percent.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.