Stocks erase losses on public works plan

Global stocks were mixed on a day when many markets were closed for a holiday. Japanese shares fell as the yen gained against the dollar, while Chinese equities recovered from earlier losses.

The Topix index slipped in Tokyo on trading volumes around 40 percent below the 30-day average. The Shanghai Composite Index erased a drop of as much as 1.3 percent, with construction stocks strengthening after the government said it aims to invest 1.8 trillion yuan ($260 billion) in highways and waterways next year.

India's Sensex index resumed its decline, falling to the lowest in more than a month. The yen advanced for a fourth straight day and the rouble strengthened 1 percent.