Investing.com - Asian stocks slipped on Thursday after weak U.S. data and worries over sharp falls across the global commodities complex.
Stocks in Australia, heavily dependent on exports of natural resources, lost 0.7% on the S&P/ASX 200, though Japan's Nikkei 225 gained 0.5%.
Copper skidded to a more than five-year low on Wednesday as the recent decline in oil prices amplified fears about the state of the global economy. Crude oil prices also slid in Asia after an early morning rebound.
On the New York Mercantile Exchange, crude oil for delivery in February eased 0.60%, to trade at $48.19 a barrel.
Overnight, U.S. stocks were lower after the close on Wednesday, as losses in the Basic Materials, Consumer Services and Financials sectors led shares lower.
At the close in New York, the Dow Jones Industrial Average fell 1.06%, while the S&P 500 index declined 0.58%, and the NASDAQ Composite index declined 0.48%.