Japan stocks enter bear territory as oil falls below $28

US oil sank below $28 a barrel in Asian trading after the International Energy Agency warned that the market for crude could "drown in oversupply". In Tokyo the Nikkei 225 Index lost 3.71%. The fall follows sustained losses over the last two months for the bourse, pushing it into bear territory. In Shanghai the main index fell just over 1%. Axel Weber, chairman of UBS, told Bloomberg TV that various factors contributing to the slide mean he doesn't expect oil prices to bottom out anytime soon. He said he thinks current levels will continue for some time. Mining giant BHP Billito...