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- England ready for Pakistan's spin assault in second Test
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- Stocks diverge, oil retreats as China disappoints markets
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- Rice praises 'unbelievable' England interim boss Carsley despite uncertainty
- Nepali teenager hailed as hero after climbing world's 8,000m peaks
- England captain Stokes back from injury for second Pakistan Test
- Shanghai stocks gain after stimulus briefing as markets rally
- Shanghai stocks gain after stimulus briefing as Asian markets rally
- South Korea military says 'fully ready' as drone flights anger North
- Pakistan 'vigilantes' behind rise in online blasphemy cases
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- Smith experiment as Test opener over, Green out of India series
- With inflation down, ECB eyes faster tempo of rate cuts
- Is life possible on a Jupiter moon? NASA goes to investigate
- Dodgers crush Mets 9-0 in MLB playoff series opener
- South Korea military says 'fully ready' as drone tensions soar
- Cummins back, Marsh and Head out of Pakistan ODI series
- Shanghai stocks swing after stimulus briefing as most of Asia rises
- New Zealand's Latham promises 'no fear' as he takes charge for India Tests
- Kyrgios vows to 'shut up' doubters with December comeback
- Public hearings start into death of Brit by Russian nerve agent
- Ex-Stasi officer faces verdict over 1974 Berlin border killing
- Role of government, poverty research tipped for economics Nobel
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- Rookie McCarty captures first PGA Tour title in Black Desert Championship
- Australia all-rounder Green ruled out of India Test series
- Seeing double in Nigeria's 'twins capital of the world'
- UK FM to attend EU foreign affairs talks for first time in 2 years
- Carter, Billups among 13 new Basketball Hall of Fame inductees
- Ravens rip Commanders as Lions lose NFL sacks leader in win
Oil drops further after OPEC delay as Asian stocks struggle
Oil extended losses Thursday after OPEC announced the shock delay of a key policy meeting, suggesting fresh upheaval in the bloc, while equities struggled after two US reports dented recent euphoria over the future of interest rates.
Both main crude contracts slipped more than one percent on news that the much-anticipated gathering of the major producers -- combining OPEC and 10 allies -- would be put back by four days to November 30.
Prices had dived almost five percent at one point Wednesday before paring the losses.
Reports said the decision was made after Angola and Nigeria pushed back at lower targets urged on them, with Saudi Arabia said to have been preparing to extend a one-million-barrel-a-day output cut into the new year.
Riyadh and Russia unveiled massive cuts earlier this year in a bid to boost prices, which have come under pressure owing to stuttering economies in the United States, Europe and particularly China.
Pierre Andurand, of Andurand Capital Management, said global supplies were healthier than expected, meaning the OPEC+ cartel would need to reduce output.
"The Saudis will probably want the other countries to cut as well," he told Bloomberg TV. "It's going to be a negotiation."
The cheaper crude price did little to encourage stock traders, with most Asian markets down, even after a fresh pre-Thanksgiving bounce on Wall Street.
Hong Kong, Sydney, Singapore, Wellington, Taipei and Manila were in the red, though Shanghai, Seoul and Jakarta edged up. Tokyo was closed for a holiday.
The tepid performance came after data showed a pick-up in inflation expectations among US consumers, who now see it at 4.5 percent over the next year, against 4.4 percent previously expected, according to the University of Michigan.
Separately, US jobless claims came in far lower than forecast, showing that the labour market continues to hold up.
The Fed has repeatedly said it would make its rate decisions based on data, particularly inflation and jobs.
The readings gave a little jolt to the good mood on trading floors that has been swirling since below-par consumer price figures last week reinforced optimism the rate-hike cycle had ended and cuts could be on the way next year.
"Markets can be capricious sometimes, and at the present junction, investors are looking for clues confirming the Fed is done with its current tightening cycle, thus evidence to the contrary can be unsettling," said National Australia Bank's Rodrigo Catril.
The latest US data "triggered a (disproportionate) market reaction, US jobless claims and inflation expectations data did not support the story US inflation is easing against a weakening US labour market", he said.
Still, observers said the outlook was bright for equities.
"We do expect the stock market rally to continue," said Audrey Goh, of Standard Chartered Bank.
"If you look at inflation, that clearly has moderated, so that will allow the Fed to stand pat. Our expectation is that policy rates have peaked."
- Key figures around 0230 GMT -
Hong Kong - Hang Seng Index: DOWN 0.3 percent at 17,679.82
Shanghai - Composite: UP 0.1 percent at 3,046.43
Tokyo - Nikkei 225: Closed for a holiday
West Texas Intermediate: DOWN 1.2 percent at $76.20 per barrel
Brent North Sea crude: DOWN 1.3 percent at $80.92 per barrel
Dollar/yen: DOWN at 149.11 yen from 149.59 yen on Wednesday
Euro/dollar: UP at $1.0900 from $1.0890
Pound/dollar: UP at $1.2500 from $1.2494
Euro/pound: UP at 87.20 pence from 87.13 pence
New York - DOW: UP 0.5 percent at 35,273.03 (close)
London - FTSE 100: DOWN 0.2 percent at 7,469.51 (close)
A.Malone--AMWN