Asia stocks sink again as oil heads further south

Asian markets resumed their downward spiral Wednesday with the previous day's China-fuelled rally effectively wiped out by ongoing worries about plunging oil prices and the state of the world economy.

The International Monetary Fund's decision to downgrade its global growth forecast for this year and issue a warning about the outlook added to the sense of doom across trading floors.

News (Other OTC: NWSAL - news) from Beijing that the world's number two economy -- a key driver of worldwide growth -- had expanded within forecasts provided a much-needed lift Tuesday.

While the figures represented the slowest rate in 25 years, they did fuel hope that China's leaders would embark on a new round of stimulus, sending Asian and European markets sailing .... https://uk.finance.yahoo.com