Asian stocks headed lower on Wednesday as falling oil prices continued to hurt energy-related shares and cut into investors’ confidence.
The price of US crude oil – West Texas Intermediate – fell below $37 a barrel on Tuesday, before recovering to $38.24.
A hit to commodity firms, along with a stronger yen led Japan’s Nikkei 225 index to end down 1% at 19,301.07.
Shares failed to be boosted by better-than-expected factory data.
Machinery order data – a leading indicator of investment in the country – showed orders in October had increased by the most since March last year. Orders rose 10.7% from the previous month, well ahead of forecasts for a fall of more than 1%.
In China, investors shrugged off government data that indicated consumer inflation had picked up slightly in November, because it still remained well below the government’s target of 3%.
The consumer price index rose 1.5% from a year ago, compared with a rate of 1.3% in October.
The Shanghai Composite index reversed earlier losses to close up 0.1% at 3,472.44, while Hong Kong’s Hang Seng index fell 0.5% to finish at 21,803.76.
In Australia, Sydney’s S&P/ASX 200 closed down 0.5% at 5,080.50.
Korea’s benchmark Kospi index ended the day 0.8% lower at 1,948.24. The index has now fallen for six consecutive sessions, its longest losing streak since mid-August.
via BBC 
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.