Asian shares place below highs; U.S. oil futures plunge deeper

Asian share markets were seen stagnant below their milestone peaks on Friday. This could be attributed to investors’ subdued sentiment as vaccine-driven hopes diminished, dragging down optimism that some of the region’s economies will recuperate faster than their Western peers.

MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.11%, placing just below its all-time closing high reached this week. In addition to this, Australian shares recorded a 0.56% decline, while Japan’s benchmark index Nikkei slipped 0.12%.

Following upbeat industrial figures in China, the country’s shares advanced 0.37%. South Korea’s KOSPI also advanced with a 0.05% gain. Meanwhile, oil prices plunged deeper, withdrawing from their seven-month peak as oversupply concerns restricted gains.