China, Japan stocks lower on Christmas

PTI Tokyo | Updated on December 25, 2019 Published on December 25, 2019

Chinese and Japanese stocks declined Wednesday while most other Asian markets were closed for Christmas Day.

Tokyo’s Nikkei 225 lost 0.1 per cent to 23,806.72 while the Shanghai Composite Index was off 2 points at 2,982.80. Malaysia’s benchmark was down 0.6 per cent while Taiwan gained nine points.

Wall Street ended nearly flat Tuesday in a shortened trading session before closing for Christmas Day.

US markets reopen Thursday.

The benchmark S&P 500 index slipped less than 0.1 per cent to 3,223.38.

The Dow Jones Industrial Average dropped 0.1 per cent, to 28,515.45. The Nasdaq composite gained 0.1 per cent to 8,952.88.

Investors have been encouraged by plans for an interim US-Chinese trade deal despite having seen few details.

US recession fears have faded after the Federal Reserve cut interest rates three times. The central bank appears set to keep them low for a long time.

Energy markets were closed for the holiday.

In currency markets, the dollar edged up to 109.39 yen from Tuesday’s 109.38 yen. The euro declined to USD 1.1087 from USD 1.1089.

Published on December 25, 2019
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