Italy referendum, OPEC stir market uncertaintyHONG KONG -- Asian traders moved cautiously Tuesday, with the recent Trump-fueled rally subdued by profit-taking, uncertainty over a crucial vote in Italy at the weekend and worries about an OPEC plan to cut oil production. OPEC members and non-members including Russia are scurrying to hammer out a deal before the group's twice-yearly meeting on Wednesday. The uncertainty has fed volatility on oil markets, with both main contracts diving about four percent Friday but rebounding two percent Monday. 'Tug of war'And Son Jae Hyun, a global market analyst at Mirae Asset Daewoo in Seoul, added: "What we are seeing now is a tug of war among OPEC members to get their share of the pie. There is a growing nervousness about a weekend referendum in Italy on constitutional reform.

Source: The China Post November 29, 2016 16:28 UTC