Global stocks were little changed Wednesday as investors weighed a recent escalation of geopolitical tensions.

The Stoxx Europe 600 inched up 0.3% in early trade, after dropping 1.2% on Tuesday following reports that the Turkish military shot down a Russian fighter jet along the Syrian border.

Meanwhile, Asian markets slipped slightly as investors there reacted to news of the downed jet.

The drop in European stocks Tuesday "was probably driven by short-term considerations," said Christoph Hilfiker, a fund manager at LLB Asset Management, which holds 10 billion Swiss francs ($9.8 billion) in assets under management.

Mr. Hilfiker said he is focused on company valuations and currently sees some opportunity in European stocks and sectors like technology in the U.S.

"When there's fear, there's a good entry point," he said.

In Asia, the Nikkei Stock Average fell 0.4%, while Australia's S&P/ASX 200 fell 0.6%. Hong Kong's Hang Seng Index was 0.5% lower, but the Shanghai Composite Index rose 0.9%.

Tuesday's gains in oil prices kept a lid on losses, supporting energy companies in Asia and sending Wall Street to a slightly higher close.

In currencies, the dollar lost a bit of ground, with the euro up 0.2% against the greenback at $1.0678 and the dollar down 0.1% against the yen at ¥ 122.3270.

In commodities, Brent crude oil was down 0.3% at $45.97 a barrel.

Gold was up 0.4% at $1,078.30 a troy ounce, buoyed by safe-haven demand.

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(END) Dow Jones Newswires

November 25, 2015 04:25 ET (09:25 GMT)