asian stock market, oil prices high feb 27 2012

asian stock market, oil prices high feb 27 2012 : Asian stock markets were mixed Monday as high oil prices dampened enthusiasm for riskier assets like stocks ahead of the release of data likely to show that the U.S. economy is improving at a slow but steady clip. Benchmark oil remained near $109 per barrel while the dollar rose against the euro and the yen.

Japan's Nikkei 225 index was 0.5 per cent higher at 9,698.99 after briefly touching 9,736.11, the highest midday mark since Aug. 4.

Hong Kong's Hang seng added 0.3 per cent to 21,479.11. Benchmarks in mainland China and Singapore also rose. But South Korea's Kospi lost 1.2 per cent to 1,995.12. Australia's S&P/ASX 200 dropped 0.6 per cent to 4,279.80.

Japanese export stocks benefited as the yen continued to weaken following the Bank of Japan's surprise increase to its economic stimulus program two weeks ago. Sharp Corp. jumped 4.4 per cent, Ricoh Co. bounded 4.1 per cent and Hitachi Ltd. added 3 per cent.

In Australia, sentiment was hurt by higher oil prices and a strong currency, said Ric Spooner, chief market analyst at CMC Markets in Sydney. Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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