Asian markets mixed amid fears over oil, Italy's referendum
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KUALA LUMPUR, Malaysia — Asian stocks were mixed Tuesday as concerns over an OPEC oil production cut and Italy's
KEEPING SCORE: The Shanghai Composite Index gained 0.4
OPEC WATCH: The Organization of the Petroleum Exporting Countries meets Wednesday to discuss output cuts to boost prices. Iraq's Oil Minister reaffirmed his intention to work toward a possible agreement boosted oil prices overnight. However, Iran's minister has warned that "politics may make an OPEC decision harder," undermining sentiments. The price of the benchmark U.S. oil fell 20 cents to $46.88 a barrel in electronic trading on New York Mercantile Exchange. The contract jumped $1.02 to close at $47.08 a barrel on Monday. Brent crude, the international standard, eased 29 cents to $49.92 a barrel in London, from $48.79 on Tuesday.
ITALY VOTE: Italians vote on
ANALYST TAKE: Mizuho Bank said the focus is on whether a deal to cut production will be reached at the OPEC meeting. "Oil prices are likely to remain choppy, fluctuating in tandem with news flow," it said in a report. Worries over Italy's
US DATA: U.S. stocks declined Monday as a remarkable rally in November since the upset victory of Donald Trump in the presidential election fizzled out. Investors are waiting for third-quarter economic data later Tuesday that will set the tone for U.S. equities and currency. The Dow Jones industrial average lost 0.3
CURRENCIES: The euro rose to $1.0592 from $1.0587, while the dollar fell to 112.20 yen from 112.65 yen.