Chinese regulators should step up support for the economy and keep ample liquidity in the financial system, Vice Premier Liu He said on Thursday, suggesting Beijing would soon unveil more policies to bolster growth amid rising USA trade pressure. Brent crude oil, the global standard, fell $1.33 to $60.96 a barrel.
US crude rose 2.11% to $52.22 per barrel, recouping some of the previous day's 4% drop.
ENERGY: Benchmark U.S. crude lost 9 cents to $51.05 per barrel in electronic trading on the New York Mercantile Exchange.
"The knee-jerk reaction is more a response to the risks associated with higher tensions in the region and prospect of more attacks, than immediate impact on oil supplies", Craig Erlam of OANDA said in a market commentary.
In Europe, Germany's DAX rose 0.6% to 12,188 and Britain's FTSE 100 rose 0.3% to 7,386. The CAC 40 in France was flat at 5,376.
USA shares were headed for a weak open as the future contract for the Dow Jones industrial average lost 0.2% to 26,017 while that for the S&P 500 also declined 0.2% to 2,882. The future contract for the Dow Jones Industrial Average was also up 0.3% at 26,089. A third of all oil traded by sea passes through the strait, which is the narrow mouth of the Persian Gulf.
On Thursday, the 13th of June, a stack of Asian shares had witnessed another session of pause of their latest winning streaks catalyzed by US-Mexico border deal and rekindled hope of a near-term resolution of Sino-US trade conflicts earlier this week, as the Hong Kong market had slipped for the second straight days in context of a massive street protests over an extradition bill that in effect, would allow Hong Kong to handover felons to Beijing.
Stocks sank in Hong Kong as the city was hit by huge protests that saw tens of thousands of people block key roads, businesses shut up shop and unions encourage members to miss work.
Traffic was restored Thursday but students and civil rights activists have pledged to keep protesting the legislation.
The protests threaten to shake confidence in the hub for many regional and worldwide businesses and investors.
Hong Kong's Hang Seng gave up 0.1% to 27,294.71, extending its losses after closing down 1.7% on Wednesday.
Japan's Nikkei lost 0.8 percent while United States stock futures lost 0.3 percent in Asia, following small losses the previous day when the S&P 500 shed 0.20 percent. Australia's S&P ASX 200 picked up 0.1% to 6,550.10 after the release of better-than-expected jobs data.
HK- Shanghai Connect daily quota used 2.7%. Shares fell in Taiwan but rose in Singapore and the Philippines.
In currencies, the US dollar was little changed against the euro as investors were slow to take large positions before the Fed meeting and the G20 summit later in June when USA and China leaders are expected to discuss trade.