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Asia stocks set to decline following continued rout in oil

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Movements in the oil markets will likely be watched by investors on Wednesday following sharp losses in recent days, with the June contract for West Texas Intermediate falling more than 40% on Tuesday.

Stocks in Asia Pacific were set to decline at the Wednesday open as the rout in U.S crude prices continued overnight.

Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 19,150, while its counterpart in Osaka was at 19,050. That compared against theShares in Australia were also set to slip, with the SPI futures contract at 5,090.

 

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