Stocks in Japan edged lower early Thursday, ahead of a
closely-watched OPEC meeting and after a quiet trading session in
the U.S.
The Nikkei Stock Average was down 0.3% at 17339.95 while the
rest of the region was mixed. Australia's S&P/ASX 200 was flat
and Korea's Kospi was up 0.3%.
"The lack of a U.S. market influence will sap much of the energy
from Japan stock trading, which itself is lacking incentives now
that earnings reporting season is essentially over," said Mutsumi
Kagawa, senior global strategist at Tokai Tokyo Research
Center.
Overnight, stocks on Wall Street ended at record highs but
volumes were low ahead of the Thanksgiving holidays on
Thursday.
Shares in Japan weakened as the U.S. dollar traded at Yen117.54,
down from Yen117.74 late Wednesday in New York.
Auto-parts maker Takata Corp. plunged 7.2% on its regulatory
troubles in the U.S. Japanese officials in charge of
automotive-safety recalls said Wednesday that they learned of a new
case in which an air bag made by Takata Corp. exploded in a vehicle
in Japan, an indication that auto makers may have to expand vehicle
recalls.
Crude-oil futures fell 0.2% to $73.52 a barrel, ahead of an
meeting of the Organization of the Petroleum Exporting Countries.
On Wednesday, Saudi Arabia's oil minister hinted he wouldn't push
for a cut in OPEC's production targets. OPEC members have engaged
in an unusually frantic round of shuttle diplomacy ahead of this
week's gathering, with some poorer countries calling for deep
supply cuts to boost oil prices.
Write to Chao Deng at Chao.Deng@wsj.com
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