Asian shares slip on lingering worries about economy

TOKYO (AP) — Asian stock markets slipped Friday on lingering concerns about the slump in oil prices and uncertain prospects for the global economy.

[...] mauling, many markets rebounded in the past week but the underlying concerns that stock prices are too high relative to waning world growth remain.

THE QUOTE: "The past week saw the rebound in shares and other risk assets continue," said Shane Oliver, chief economist at AMP Capital in Sydney.

Investors are hoping that a round of international talks will lead to a deal that addresses a glut in oil production, but the U.S. government reported that energy stockpiles are still growing.

A three-day rally ran out of steam on Wall Street as oil prices shed recent gains and Wal-Mart, the first major retailer to report results, had disappointing sales.