Asia Markets: Weak China economic data help push Asian markets down

Asian markets were largely down in early trade Thursday with traders focused on oil, earnings and China economic data.

Japan’s Nikkei NIK, -0.50% was down 0.3%, Australia’s S&P/ASX XJO, -0.99% off 0.5% but Korea’s Kospi SEU, +0.34% gained 0.3%.

Oil prices are currently inching lower in Asian trade following overnight declines. The market is increasingly sceptical that OPEC will pull off a production cut, as it had indicated.

Australia’s Woodside Petroleum WPL, -1.52% was down 1.6% and Chinese oil major PetroChina 0857, -1.99% slumped 2.1%. Cnooc 0883, -3.05% was down 3.6% after the company reported production fell 7.7% year-over-year to 117.7 million barrels of oil equivalent in the third quarter.

>>> Original Source <<<