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31 Mar, 2020 05:55

Asia markets in the red, oil prices plunging

Western markets are continuing their upward trend staying positive while Asian markets have not been quite as lucky with Japan's Nikkei, the Shanghai Composite, and Hong Kong's Hang Seng all in the red. Market volatility continues to hover around 10-year highs as stocks have been swinging in the wake of the pandemic. In the oil sector, it's been a wild month as the coronavirus pandemic and a price war between Russia and Saudi Arabia have dropped costs to recent lows. While crude demand is plunging, there are no signs that the world's top oil exporter and OPEC's top producer, Saudi Arabia, is backing down in the oil price war with Russia, which began earlier this month. Meanwhile, American conglomerate Johnson & Johnson announced it has made a $1 billion deal with the US government to co-fund vaccine research to fight the coronavirus.

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