Crude oil weighed on stocks in Asia, but ongoing liquidity efforts by the People's Bank of China lifted Chinese markets
Asian stocks finished mostly lower, erasing a portion of Wednesday's
Fed-induced gains amid a drop in oil prices. Despite a surprise jump in industrial output, South Korea's Kospi fell 0.3%, while Hong Kong's Hang Seng retreated 0.1%. Japan's Nikkei continued to lag its regional peers with a loss of 0.7%, as electronics guru Sharp tumbled after agreeing to be acquired by Taiwan's Foxconn at a reduced offer price. On the other side of the ledger, China's Shanghai Composite edged 0.1% higher after the People's Bank of China (PBOC) injected $15.4 billion into the financial system to encourage lending.
Stocks in Europe are trading lower at midday as investors digest another deflationary reading for the eurozone -- despite the European Central Bank's (ECB) early March decision to
expand stimulus measures -- and looking ahead to tomorrow's U.S. nonfarm payrolls report. At last check, the French CAC 40 has shed 0.9%, London's FTSE 100 is down 0.4%, and the German DAX has dipped 0.5%.
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