Brent oil broke above US$100 a barrel on Wednesday as oil prices surged and stocks struggled on the back of a fresh flare-up in the Middle East crisis, putting upward pressure on inflation ahead of key US data at the end of the week.

In Hong Kong, the Hang Seng Index gave up 42 points to close at 25,274.

The Hang Seng China Enterprises Index dipped 0.34 percent to 8,369, and the Hang Seng Tech Index fell 0.76 percent to 4,420.

Mainland stocks, meanwhile, gained ground, with the Shanghai Composite Index up 0.28 percent to 3,951 and the Shenzhen Component Index putting on 0.15 percent at 13,723.

In Japan, the benchmark Nikkei 225 index was up for most of the day, rising as much as 0.8 percent, before losing steam and ending 0.19 percent lower at 65,142.

It was a different story in South Korea where the Kospi finished 97 points or 1.4 percent up at 7,051, the highest close since July 23.

Brent crude prices have risen by a quarter since early last month as hopes fade for a permanent resolution to the six-month-old US-Iran conflict.

Market watchers said investors are growing increasingly anxious that the US Federal Reserve will have to hike interest rates to cap surging consumer prices. (Agencies)




Edited by Tony Sabine