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Asia stocks pressured on global growth worries, oil woes

Updated : November 12, 2018 08:14 AM IST

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.17 percent in early trade. Australian shares were down 0.08 percent, while Japan’s Nikkei stock index eased 0.12 percent.
Risk asset markets have been under intense pressure recently as worries about a peak in earnings growth added to anxiety about slowing global trade and investment.
Taking some pressure off a sharp drop in oil prices last week, Saudi Arabia’s energy minister said on Sunday that the country plans to reduce its oil supply to world markets by 500,000 barrels per day in December, representing a global reduction of about 0.5 percent.
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