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Oil prices slip and Asian shares are mostly lower as investors sell chipmaker stocks
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The Independent News
Read our Privacy noticeOil prices fell Wednesday and Asian shares were mostly trading lower as South Korea’s Kospi extended its losses after falling more than 16% over the past two days.
The Kospi was swinging on Thursday and was down 1.3% to 5,587.82, after falling 10.8% on Tuesday and nearly 6% on Wednesday.
That was still lower than what analysts had expected and disappointed investors dumped its shares.
Oil prices fell on Thursday even as the U.S. and Iran resumed exchanging attacks.
Maritime traffic in the Strait of Hormuz, a crucial waterway for oil transport, remains limited, putting pressure on global supplies.