Asian equities were mostly flat this morning (Thursday), as traders anxiously eyed U.S. crude prices which fell to $50 levels steadied after a sharp plunge overnight, reported. Crude benchmarks plunged more than 5% during U.S. hours on Wednesday after U.S. crude inventories surged to a record high at an increase of 8.2 million barrels last week, compared with the consensus expectation for a 2 million barrels. Market sentiments this morning are also hit by China factor—China is expected to release it consumer price index (CPI) and producer price index (PPI) later in the morning.

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