Asian markets were painted red on Tuesday with Chinese stocks leading losses as disappointing PMI services data fuelled concerns over the nation’s sluggish economic recovery.

China’s central bank hijacked the headlines on Tuesday morning after unexpectedly reducing a key rate by the most since 2020 to shore up its weak economy.

Oil traders have been kept on their toes all day Thursday. Markets had a lot of new information to digest, resulting in oil prices being whipped about over the past few hours.  

Stocks in Asia were shaky on Tuesday morning following the lack of cues from Wall Street overnight due to the Memorial Day holiday in the US.