Asian Equities Higher

Asian stocks traded higher early Wednesday, overlooking a drop in crude oil prices in early Asian trading, while traders digest a raft of earnings releases in Tokyo and Sydney.

U.S. crude futures fell more than 2 percent, after a tumbling U.S. dollar had pushed up prices by about 19 percent over the last four sessions. Analysts are divided on whether the rebound this week indicates a bottom for oil markets, which have been battered by a seven-month long rout.

“I think we’ve seen the lows for the year, even though the cutting down of capex and oil rigs may take 6 months to 2 years before supply tightens,” Daniel Morgan, global commodities analyst at UBS, told CNBC’s “The Rundown.” “Financially, oil prices have been sold off too aggressively so it’s poised for a comeback now.”

CNBC

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.