Asian markets mostly rise but oil hits 11-year low

HONG KONG : Oil prices extended losses on Monday with Brent hitting an 11-year low, fears about the global economy, but most Asian stock markets recovered from early losses to rally in the afternoon.

However, with Wednesday’s US Federal Reserve interest rate rise now in the past, analysts said concerns about the global economy continue to keep traders cautious.

While markets will begin winding down for the Christmas break on Friday there are some key economic figures due for release this week, including US economic growth and home sales as well as Japanese inflation and spending.

 

Agencies

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