Asia Stocks Seen Down; Oil in Focus on OPEC+ Deal: Markets Wrap

opec asia stocks oil focus
Gulf

Asia Stocks Seen Down; Oil in Focus on OPEC+ Deal: Markets Wrap

Andreea PapucJuly 18, 2021, 2:23 PM·2 min read1 / 2Asia Stocks Seen Down; Oil in Focus on OPEC+ Deal: Markets WrapIn this article: (Bloomberg) -- Stocks are set to start the week lower in Asia amid concerns about accelerating inflation. Oil will be in focus after OPEC and its allies reached a deal on increasing global supply.Futures were down in Japan, Australia and Hong Kong. The S&P 500 Index fell for the first week in four. The 10-year Treasury note yield registered a third week of declines, ending below 1.3%, as the increase of more dangerous Covid-19 variants around the world raised questions about the reflation trade. Currencies were steady in early Asian trading.Oil posted its biggest weekly loss since mid-March as markets face the prospect of extra supplies from the OPEC+ coalition. Saudi Arabia met the United Arab Emirates halfway in its demand for a more generous output limit,