Asian stocks mixed with investors worried about oil prices

TOKYO - Global shares were mixed in Wednesday trading, with only some markets cheered by an overnight rally as investor sentiment grew cautious on lower oil prices.

See Full Article

KEEPING SCORE: France's CAC 40 lost 0.4 per cent to 4,682.53 in early trading, and Germany's DAX fell 0.3 per cent to 10,830.93. Britain's FTSE 100 slipped 0.6 per cent to 6,276.17. U.S. shares were set to drift lower, with Dow futures down 0.1 per cent at 17,607 and S&P 500 futures losing 0.1 per cent to 2,069.40.

ASIA'S DAY: Japan's benchmark Nikkei 225 gained 0.3 per cent to finish at 19,033.71, but trading was muted on the last trading day of the year ahead of the New Year's holiday. People clapped in rhythm at the Tokyo Stock Exchange in Japan's customary ceremony to close out the year. South Korea's Kospi dipped 0.3 per cent to 1,961.31. Hong Kong's Hang Seng fell 0.5 per cent to 21,882.15, while the Shanghai Composite added 0.3 per cent to 3,572.88. Other regional shares were also mixed, rising in Indonesia but dropping in Taiwan and Singapore.

U.S. ECONOMY: The latest batch of U.S. economic data added to the upbeat sentiments. The Conference Board said its consumer confidence index increased from the previous month, reflecting positive views on the economy and job market. Separately, a key gauge of home values indicated that U.S. home prices climbed 5.5 per cent in October from a year earlier.

THE QUOTE: "This year's Santa rally is doing what many of its predecessors have done," said Ric Spooner, chief market analyst at CMC Markets. "The stock market continues to push higher on thin volume and with no need for a macro catalyst. At the moment, the market is all about sentiment and perceived value." Spooner warned that caution could set in after the new year comes.

ENERGY: Benchmark U.S. crude fell 74 cents to $37.13 a barrel on the New York Mercantile Exchange, losing some of the overnight price recovery. Brent crude, used to price international oils, slipped 65 cents to $37.14 a barrel in London.

CURRENCIES: The dollar rose to 120.44 yen, up from 120.37 yen late Tuesday. The euro slipped to $1.0937 from $1.0977.

-----

AP Business Writer Alex Veiga contributed to this report.



Advertisements

Latest Economic News

  • Report examines grim Bangladesh leather trade, links to West

    Economic CTV News
    DHAKA, Bangladesh -- Hazardous, heavily polluting tanneries, with workers as young as 14, supplied leather to companies that make shoes and handbags for a host of Western brands, a non-profit group that investigates supply chains says. Source
  • Notley: Keystone XL doesn't lessen need for Energy East, Trans Mountain

    Economic CTV News
    CALGARY -- Alberta Premier Rachel Notley says U.S. approval of the Keystone XL pipeline does not lessen the need for two other controversial proposals within Canada's borders. U.S. President Donald Trump announced the green light for the line more than eight years after Calgary-based TransCanada first applied for a cross-border permit. Source
  • Trump's Keystone XL decision sets up new fight in Nebraska

    Economic CTV News
    LINCOLN, Neb. -- U.S. President Donald Trump may have approved a federal permit for the Keystone XL pipeline, but the fight is far from over in Nebraska, the one state in its path that has yet to approve the project. Source
  • Toronto stock index extends rally, Wall Street mixed after 'Trumpcare' pulled

    Economic CBC News
    Specialist Stephen Naughton, left, and trader Michael Milano work on the floor of the New York Stock Exchange on Wednesday. North American equity markets finished mixed on Friday after U.S. Republicans withdrew their bill to overhaul Obamacare. Source
  • PepsiCo, Wal-Mart, Starbucks join YouTube ad boycott in U.S.

    Economic CTV News
    SAN FRANCISCO -- An advertising boycott of YouTube is broadening in a sign that big companies doubt Google's ability to prevent marketing campaigns from appearing alongside repugnant videos. PepsiCo, Wal-Mart Stores and Starbucks on Friday confirmed that they have also suspended their advertising on YouTube after the Wall Street Journal found Google's automated programs placed their brands on five videos containing racist content. Source
  • Debate renewed over economic benefits of Keystone XL pipeline

    Economic CTV News
    U.S. President Donald Trump is calling his administration's approval of the Keystone XL pipeline a new era for American energy policy. As expected, the State Department reversed a decision by the Obama administration and favoured energy development over environmentalists' objections to the pipeline, which will carry thick Canadian crude oil to Nebraska, where it can flow on to refineries along the Gulf Coast. Source
  • BRP could move Mexican production if NAFTA changes too onerous, says CEO

    Economic CTV News
    MONTREAL -- The company that makes Ski-Doos, Sea-Doos and Spyder vehicles says it could move production from Mexico if NAFTA changes result in hefty border taxes, but BRP chief executive Jose Boisjoli is hoping "common sense" will prevail during upcoming negotiations. Source
  • FCA to wind down transport operations in Windsor

    Economic CBC News
    Nearly 300 jobs could be eliminated at Fiat Chrysler Automobiles as the automaker winds down its FCA Transport operations in Windsor. "Retirement packages will be offered to eligible employees at the Windsor Assembly Plant, which includes FCA Transport," said a company spokesperson in a statement. Source
  • Dakota Access pipeline builder, U.S. government want lake crossing upheld

    Economic CBC News
    The company building the $3.8 billion US Dakota Access oil pipeline and the Army Corps of Engineers want a judge to reject a request by American Indian tribes to revoke permission for the project to cross a Missouri River reservoir in North Dakota. Source
  • Ontario premier discusses trade issues with auto industry leaders

    Economic CTV News
    TORONTO -- U.S. political leaders are showing a better-than-expected understanding of how important trade with Canada is to the health of the American auto sector, Ontario Premier Kathleen Wynne said Friday. Wynne, who met with several auto industry leaders in Toronto, said her government has been lobbying U.S. Source