MUMBAI: Asian markets were mixed on Thursday. Oil companies led gains after crude prices crossed the $80 per barrel mark on decline in US inventories.
In Tokyo, Mitsui, Inpex and Mitsubishi Corporation led on higher crude oil prices. Crude oil and industrial fuel sale is the second biggest contributor to Mitsubishi Corporation's revenue. Japan's Nikkei average was 0.39 per cent higher at 15,859.09.
Steel companies were in demand after brokerage Daewoo Securities said shortage of ship plates in the growing shipping industry will boost earnings.
Daewoo Securities also lifted its six-month price estimate for Dongkuk Steel Mill by 25 per cent. The company today raised prices of steel beams.
Samsung Electronics and Hynix Semiconductor declined after UBS AG and Goldman Sachs & Co. cut their price estimates for the stocks.
South Korea's KOSPI was flat at 1,815.12.
Hong Kong's Hang Seng was down 0.11 per cent at 24,284.18 as Aluminum Corp of China slid over 8 per cent after Alcoa Inc sold its stake in the company.
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