Production of natural rubber decreased 39.2 per cent in May 2020

SYDNEY (Reuters) - Asian shares pared gains on Wednesday, led by losses in Chinese stocks, after Beijing vowed retaliatory sanctions against the United States, while the euro rose to a four-month high on the prospect of stimulus ahead of a crucial EU summit.

SEOUL (Reuters) - Oil prices rose on Wednesday after a sharp drop in U.S. crude inventories, with the market waiting for more direction from a meeting later in the day on the future level of production by OPEC and its allies.

SINGAPORE (Reuters) - Singapore’s trade-reliant economy plunged into recession in the second quarter with a record contraction, signaling a rough first half globally and an equally challenging outlook as the coronavirus crisis exacts a heavy toll on business and demand.

Shares fell in Asia on Tuesday as skepticism set in about the recent upward momentum in global markets given rising confirmed coronavirus cases and percolating tensions between the U.S. and China.

China’s dollar-denominated exports and imports rose in June, as restrictions eased and countries started to reopen their economies.