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Asian markets mixed in early action; crude falls again

Citation:Seeking Alpha Date:2020-4-28 10:01:56

In early Tuesday action, Asian markets are subdued. Australia's ASX200+0.1%, Hong Kong's Hang Seng Index +0.2%, South Korea's KOSPI+0.1% are all in positive territory, while Japan's Nikkei 225 is down 0.5%and the Shanghai Composite Index is off 0.3%.

The mixed start in Asia follows a strong day on Wall Street and some cautionary words just in from the Commonwealth Bank of Australia.

"We are less optimistic and expect a slower recovery in the world economy," warned the central bank. The statement from the central bank also noted that the risk of reintroducing pandemic restrictions is a risk to market participants' optimistic outlook for a quick resumption of normal economic activity. That's a sentiment that applies across continents.

Crude oil (CL1:COM) is sliding again with WTI crude futures down 13.4% to $11.05 and Brent Crude off 3.7% to $19.24.

U.S. stock index futures are down roughly 0.4%.