SINGAPORE — Shares in Asia-Pacific declined in Thursday trade, with Australia’s April trade surplus coming in higher than expected.
In Australia, the S&P/ASX 200 shed 0.92%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.98% lower.
Oil drops more than 2%
Those losses came after the Financial Times reported Saudi Arabia is ready to pump more oil if Russian output declines. That comes after European Union leaders agreed earlier this week to ban most Russian crude imports by the end of the year.
Australia’s trade surplus widened to 10.495 billion Australian dollars ($7.525 billion) in April, data from the country’s Bureau of Statistics showed Thursday. That was higher than the surplus of 9.3 billion Australian dollars predicted in a Reuters poll.
Following the data release, the Australian dollar changed hands at $0.7169, still off levels above $0.72 seen recently.
Overnight on Wall Street, the S&P 500 shed 0.75% to 4,101.23. The Dow Jones Industrial Average declined 176.89 points, or 0.54%, to 32,813.23. The tech-heavy Nasdaq Composite shed 0.72% to 11,994.46.