Asian stocks mixed as oil prices drop

<p>Investors were torn between US upbeat data and falling oil prices.</p>

Asian stocks were mixed today (November 27th) following a record close on Wall Street, with Japanese markets down on a stronger yen. Traders focused on oil prices, which decreased to four-year lows amid speculation that Opec countries will refrain from cutting their production.

However, investor's sentiment was lifted after European Commission President Jean Claude Juncker announced a €315 billion (£250 billion) plan to boost the eurozone economy, along with the release of upbeat US data. 

The Dow and S&P 500 hit new highs yesterday after it emerged US orders for durable goods rose in October, sales of new single-family homes were up for a third straight month last month, and consumer confidence reached a seven-year high in November.

Tokyo stocks lost 0.78 per cent today, while Hong Kong was down 0.48 per cent and Shanghai was up 0.51 per cent. Sydney edged up 0.09 per cent to close at 5,400.9 points, with Seoul ended up 0.06 per cent to 1,982.09 points.

Learn about the Asian markets and CFD trading at City Index.

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.