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Japan stocks set to rise as oil prices plunge overnight; HSBC earnings ahead

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West Texas Intermediate for June delivery plunged more than 24% overnight to settle at $12.78 per barrel. International benchmark Brent crude futures also saw sharp losses as the contract fell 6.76% to $19.99 per barrel.

Stocks in Japan were set to edge higher at the open as oil prices plummeted overnight on fears that worldwide crude storage capacity will soon be filled as a result of weak demand caused by the coronavirus pandemic.

The Nikkei futures contract in Chicago was at 19,850 while its counterpart in Osaka was at 19,800. That compared against theMeanwhile, shares in Australia were poised to edge lower. The SPI futures contract was at 5,313, as compared to the

 

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Asia Pacific stocks set to rise as Bank of Japan meetsThe Bank of Japan is set to begin its monetary policy meeting on Monday, as investors watch for policy moves from the central bank to grapple with the economic impact of the ongoing coronavirus pandemic.
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