Friday, 5 May 2017

Asian stocks tread water on US, commodities concerns

Asian stocks are set for a third straight day of losses on Friday as a retreat in crude oil and other commodities prices knocked global sentiment, although receding concerns about France's presidential election kept the euro near six-month highs. MSCI's broadest index of Asia-Pacific shares outside Japan opened flat on Friday. Japan and South Korea markets are closed for trading. Commodity prices across the board tumbled, led by oil, which fell by 5 percent in overnight trading on concerns of a supply glut with analysts forecasting further losses.

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