Protests in 2019 and later the novel coronavirus pandemic in 2020 have battered the city's economy, with full year gross domestic product (GDP) forecast to contract 6.1%.
The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange slid 42 ringgit, or 1.25%, to 3,308 ringgit ($817.60) during early trade.
"Shale producers have indicated they will continue to keep their spending under control," ANZ Research said in a note. "The economics also don't favour a surge in drilling, with half of the industry still uneconomical."
Hebei province, accounting for a quarter of China's total capacity, produced 229 million tonnes of crude steel in the first 11 months of last year, defying the target it set in 2018 to keep capacity within 200 million tonnes by end-2020.
In Tokyo, Sony was down 1.03 percent at 10,605 yen, trading house Mitsubishi Corp was down 1.29 percent at 2,594 yen, and real estate firm Mitsui Fudosan was off 1.02 percent at 3,895 yen.
The new week-long stay at home orders affecting about 18 million people in Shijiazhuang and Xingtai come as cases spike ahead of the Lunar New Year, when hundreds of millions criss-cross the country to visit family and friends.
The government has the authority to make a decision (about the protective measures).
However, the pandemic is ongoing, and case numbers have risen sharply in neighbouring countries, which means that upholding the (existing) measures is justified.
The American troops stationed in South Korea on Tuesday received the first doses of COVID-19 vaccine. USFK includes around 28,500 American military personnel as well as thousands of other workers and family members.
Only residents with permits for hospitality venues will be allowed into the city on New Year's Eve and households across Sydney are only allowed to host 10 people. Outdoor gatherings are limited to 50 people.
Some analysts worry that new virus infections around the world, especially in Europe and the United States, may prevent demand for Japan's manufactured goods to grow further as corporate and consumer activity take a hit.
The new cases include 397 migrant workers in the southwestern province of Samut Sakhon, where Thailand's coronavirus worst outbreak yet was confirmed at the weekend.
SoftBank Group was down 1.13 percent at 8,393 yen following reports that it applied for an initial public offering of a special purpose acquisition company (SPAC) called SVF Investment to raise up to $525 million.
Improved global risk appetite has supported the rand in recent weeks, gaining nearly 7% since the start of November, but concerns about a new wave of coronavirus infections and its impact on a frail local economy have limited gains.