Asian Shares Slip From 3-week High As Oil Rally Pauses.

International News

Asian shares slipped from near three-week highs hit earlier this month on Friday, as a rally in oil prices paused and investors remained cautious about the outlook of the global economy. Oil prices dipped on Thursday following a rise in US stockpiles but look set to post their first gains in three weeks after the battered market took heart from a tentative deal by major producers to freeze output at January’s highs. Still, there are doubts about how much other countries will cooperate, with a focus on Iran, which has pledged to increase output sharply to regain market share lost during sanctions.In a sign that investor fears over a global economic slowdown are far from being on the wane, traditional safe-haven assets held firm after a strong outperformance on Thursday.