Asian stocks mixed after decline in oil prices

BEIJING - Asian stock markets were mixed in thin trading Thursday after the latest decline in oil prices pulled Wall Street lower.

See Full Article

Markets in Japan and South Korea were closed for the New Year holiday.

KEEPING SCORE: The Shanghai Composite Index lost 0.4 per cent to 3,560.34. Sydney's S&P/ASX 200 shed 0.2 per cent to 5,308.70 and Hong Kong's Hang Seng fell 0.1 per cent to 21,870.01. Singapore and Taiwan also fell. Benchmarks in New Zealand, Thailand and Indonesia gained.

WALL STREET: The Dow Jones industrial average fell 117.11 points, or 0.7 per cent, to 17,603.87. The Dow is on track to end 2015 down 1.2 per cent. Standard and Poor's 500 index dropped 15 points, or 0.7 per cent, to 2,063.36. The index is up only 0.2 per cent for the year. The Nasdaq composite lost 42.09 points, or 0.8 per cent, to 5,065.85. The Nasdaq is up about 7 per cent for year.

OIL DOLDRUMS: Benchmark U.S. crude for February delivery shed 3.4 per cent on Wednesday, extending its losses for the year to 40 per cent. Energy companies fell the most among the 10 sectors in the S&P 500, 1.5 per cent. The sector is down 23.8 per cent for the year. Southwestern Energy fell 6.8 per cent, while Consol Energy sank 5.6 per cent.

ANALYST'S TAKE: "On the eve of the new year, the fact is that lingering and familiar risks are not purged at the stroke of midnight," said Mizuho Bank. It cited fluctuating oil prices and uncertainty about the impact of monetary policy changes in the United States, Europe and Japan. "Instead the risk landscape is a continuum that warrants caution."

ENERGY: Benchmark U.S. crude gained 22 cents to $36.82 per barrel in electronic trading on the New York Mercantile Exchange. The contract plunged $1.27 on Wednesday to close at $36.60. Brent crude, used to price international oils, added 16 cents to $36.62 in London. It slid $1.33 in the previous session to $36.46.

CURRENCY: The dollar declined to 120.42 yen from Wednesday's 120.49. The euro also fell, to $1.0926 from $1.0936.



Advertisements

Latest Economic News

  • Euro tumbles after Italy's PM resigns, loses referendum

    Economic CBC News
    The euro tumbled in early Asian trade on Monday after Italian Prime Minister Matteo Renzi said he would resign after conceding defeat in a referendum over his plan to reform the constitution. The euro dropped 1.3 per cent to $1.0505 US, falling below its 1 1/2-year low of $1.0518 touched late last month, and testing its key support levels where the currency has managed to rebound in the past couple of years. Source
  • Company sold turf product after learning of defects: report

    Economic CTV News
    WOODBRIDGE, N.J. -- The country's leading maker of artificial sports turf sold more than 1,000 fields to towns, schools and teams nationwide after its executives knew they were falling apart faster than expected and might not live up to lofty marketing claims, according to an investigation by a news organization. Source
  • Montreal-based company sold turf product after learning of defects: report

    Economic CTV News
    WOODBRIDGE, N.J. -- The country's leading maker of artificial sports turf sold more than 1,000 fields to towns, schools and teams nationwide after its executives knew they were falling apart faster than expected and might not live up to lofty marketing claims, according to an investigation by a news organization. Source
  • U.S., China, EU, others fail to reach environmental goods deal

    Economic CTV News
    GENEVA -- Forty-six countries including the U.S., China and European Union nations failed Sunday to agree on a list of "environmental goods" like solar-powered air conditioners or LED light bulbs that could be targeted for lower tariffs. Source
  • Venezuela to issue new bills with current ones worth no more than 2 U.S. cents

    Economic CTV News
    BOGOTA -- Venezuela said it will issue higher-denominated bills as triple-digit inflation and a currency meltdown leave the country's largest note worth just around 2 U.S. cents on the black market. The central bank said in a statement Saturday that six new bills ranging from 500 to 20,000 Bolivars will begin circulating on Dec. Source
  • Six things to know about the bovine TB outbreak: CFIA's chief veterinary officer

    Economic CTV News
    OTTAWA -- More than 22,000 cattle at farms in Alberta and Saskatchewan are quarantined due to bovine tuberculosis, causing hardship for ranchers and millions in compensation payments and other costs. The Canadian Food Inspection Agency is testing cattle to determine the extent of the outbreak and the source of the contagious bacterial infection. Source
  • U.K.'s Boris Johnson downplays EU payment suggestions

    Economic CTV News
    LONDON -- Britain's foreign secretary has dismissed suggestions that London would be willing to pay into European Union coffers following an exit from the bloc, describing the idea as speculation. Boris Johnson's comments to the BBC on Sunday came after Britain's minister for leaving the European Union, David Davis, said that the country might be willing to pay in return for access to the single market. Source
  • Beyond the hippie stereotype: A closer look at the opposition to Trans Mountain

    Economic CBC News
    A conversation about tripling your money on a tech start up might seem out of place at an anti-pipeline march, but not so in Vancouver. When thousands of protestors made their way from City Hall to downtown a few weeks ago, chatter about stock options and where to go for ramen after the rally could be heard alongside the traditional indigenous drumming and chants of "Hey, hey, Trudeau, Kinder Morgan's got to go". Source
  • Using Air Miles for overseas flights? It may not be a great deal

    Economic CBC News
    You've saved your Air Miles for a well-deserved overseas adventure — but don't pack your bags just yet, as you may be in for a surprise. Seventeen million Canadians collect Air Miles reward points on everything from groceries to gas. Source
  • Airbnb drops lawsuit against NYC over new state law

    Economic CTV News
    NEW YORK -- Airbnb has agreed to drop a lawsuit against New York City over a new state law it said could have deterred hosts and impaired its revenues. The settlement was reached Friday. Source