HONG KONG (AP) — Stocks mostly advanced in Asia on Wednesday despite losses on Wall Street, while oil prices fell after the United Arab Emirates said it would leave OPEC in a blow to the powerful oil cartel.
U.S. futures edged higher.
Markets in Japan were closed for a holiday.
Elsewhere in Asia, South Korea’s Kospi rose 0.3% to 6,657.40 and the Hang Seng in Hong Kong gained 1.4% to 26,029.02. The Shanghai Composite index traded 0.3% higher at 4,091.01.
Australia’s S&P/ASX 200 slipped 0.3%, to 8,689.50.
Taiwan’s Taiex lost 0.6%, and India’s Sensex gained 0.4%.
The price of a barrel of Brent crude oil to be delivered in June fell 0.5% to $110.71 early Wednesday. Brent to be delivered in July dropped 0.6% to $103.74. Brent oil was around $70 per barrel before the war began in late February.
Benchmark U.S. crude fell 0.6% to $99.32 a barrel.
The UAE’s departure from OPEC, due to…
