Asian stocks mixed as oil prices drop

Investors were torn between US upbeat data and falling oil prices.

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By :  ,  Financial Analyst

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.

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