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| October 18, 2018

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Asia edges up after oil rebound, growth worries remain -

A man walks past an electronic board displaying Japan's Nikkei average in TokyoBy Shinichi Saoshiro TOKYO (Reuters) – Asian stocks pared earlier losses and edged up on Thursday after a significant rebound in oil prices brought a semblance of calm, but global growth worries remained after weak U.S. retail sales data compounded concerns over plunging copper prices. MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1 percent. "Consumers gain purchasing power when oil prices fall, but the fact that U.S. retail sales fell in December despite cheap oil has highlighted a serious deflation risk," said Chun Jung-hun, an analyst at Kiwoom Securities. Copper skidded to a 5-1/2-year low on Wednesday as the recent decline in oil prices amplified fears about the state of the global economy.



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