Asia Markets: Asian markets weighed down as oil prices decline

Global investors reeled in their risk taking on Wednesday, with many stock markets across Asia drifting lower under the pressure of falling oil prices.

Equities in the region kicked off the week positively, but that momentum has flatlined as political uncertainty in Europe and the U.S. lingers.

The Nikkei Stock Average NIK, +0.51% seesawed between gains and losses, as the Japanese yen shrugged off early weakness against the dollar. The index was last up 0.1%. In Australia, the S&P/ASX 200 XJO, +0.52% was up 0.4%, buoyed by its heavily weighted financial component.

After sharp overnight declines, continued softness in oil prices weighed on indexes in the region.

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