Asian stock markets experienced a mixed performance in thin holiday trading on Thursday. Meanwhile, regional currencies mostly declined against a robust U.S. dollar and elevated Treasury yields amid ongoing uncertainty over the Federal Reserve's interest rate trajectory and President-elect Donald Trump's tariff threats. Both oil and gold maintained modest gains in Asian markets.
Markets in Australia, New Zealand, and Hong Kong remained closed for the Boxing Day holiday, while Indonesian markets were shut for Christmas.
In mainland China, stocks saw slight gains following the authorities' decision to issue 3 trillion yuan ($411 billion) in special treasury bonds next year to stimulate economic growth and mitigate the impact of tariffs. The benchmark Shanghai Composite Index advanced by 0.14% to close at 3,398.08. This came as the People's Bank of China kept the one-year medium-term lending facility interest rate steady at 2% and conducted its largest cash drain since 2014 using a one-year policy tool.
In Japan, markets rallied, and the yen hovered near a five-month low after Bank of Japan Governor Kazuo Ueda reiterated his dovish stance in a speech on Wednesday. Ueda emphasized the need to assess the effects of Trump's policies and global risks on the Japanese economy. The Nikkei average rose by 1.12% to 39,568.06, while the broader Topix index increased by 1.20% to 2,766.78.
Toyota Motor surged 6%, continuing its upward trend from the previous session following reports that the automaker aims to double its return on equity target to 20% by around 2030. Additionally, Honda Motor rose 3.8%, Nissan Motor jumped 6.6%, and Mitsubishi Motors climbed 6.5%.
In Seoul, stocks fell amidst worries regarding domestic political instability and forex market fluctuations. The Kospi average decreased by 0.44% to 2,429.67.
On Wall Street, the main indexes all ended higher in a shortened Christmas Eve session on Tuesday, driven by gains in major tech stocks. The Dow Jones Industrial Average increased by 0.9%, the tech-focused Nasdaq Composite surged 1.4%—marking four consecutive sessions of gains and initiating the so-called Santa Claus rally. Meanwhile, the S&P 500 rose by 1.1%, extending its winning streak to three sessions.
The material has been provided by InstaForex Company - www.instaforex.com
Markets in Australia, New Zealand, and Hong Kong remained closed for the Boxing Day holiday, while Indonesian markets were shut for Christmas.
In mainland China, stocks saw slight gains following the authorities' decision to issue 3 trillion yuan ($411 billion) in special treasury bonds next year to stimulate economic growth and mitigate the impact of tariffs. The benchmark Shanghai Composite Index advanced by 0.14% to close at 3,398.08. This came as the People's Bank of China kept the one-year medium-term lending facility interest rate steady at 2% and conducted its largest cash drain since 2014 using a one-year policy tool.
In Japan, markets rallied, and the yen hovered near a five-month low after Bank of Japan Governor Kazuo Ueda reiterated his dovish stance in a speech on Wednesday. Ueda emphasized the need to assess the effects of Trump's policies and global risks on the Japanese economy. The Nikkei average rose by 1.12% to 39,568.06, while the broader Topix index increased by 1.20% to 2,766.78.
Toyota Motor surged 6%, continuing its upward trend from the previous session following reports that the automaker aims to double its return on equity target to 20% by around 2030. Additionally, Honda Motor rose 3.8%, Nissan Motor jumped 6.6%, and Mitsubishi Motors climbed 6.5%.
In Seoul, stocks fell amidst worries regarding domestic political instability and forex market fluctuations. The Kospi average decreased by 0.44% to 2,429.67.
On Wall Street, the main indexes all ended higher in a shortened Christmas Eve session on Tuesday, driven by gains in major tech stocks. The Dow Jones Industrial Average increased by 0.9%, the tech-focused Nasdaq Composite surged 1.4%—marking four consecutive sessions of gains and initiating the so-called Santa Claus rally. Meanwhile, the S&P 500 rose by 1.1%, extending its winning streak to three sessions.
The material has been provided by InstaForex Company - www.instaforex.com