Asian stocks mixed after Wall St hit by oil market turmoil

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Asian stock markets were mixed Wednesday as oil prices edged lower amid anxiety about the coronavirus pandemic's mounting economic damage.

Benchmarks in Tokyo, Hong Kong and Southeast Asia retreated while Shanghai was little-changed after Wall Street suffered its biggest decline in weeks.

Tokyo's Nikkei 225 fell 0.7% to 19,137.95 and Hong Kong's Hang Seng edged 10 points lower to 23,805.56. The Shanghai Composite Index advanced 0.5% to 2,840.05.India's Sensex opened up 1.3% at 31,034.91. New Zealand's main index fell 1.4% and Singapore was down 1.3%. The price for oil to be delivered in June didn't hit zero, partly because storage isn't as pressing a problem.

Also Tuesday, the U.S. Senate approved a virus aid bill worth nearly $500 billion. It would provide more loans to small businesses and aid to hospitals.

 

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