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Asia-Pacific Stocks Quiet as Global Markets Seek New Highs on Final Trading Day of 2023

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Dec. 29, 2023 2:27 AM ET

EWJ, JEQ, FXI, PGJ, EWH, DXJ, CAF, FXY, GXC, TDF, CHIQ, YINN, YANG, CQQQ, CHIX, MCHI, CXSE, KWEB, ASHR, KBA, CWEB, KURE, AS51, NKY:IND, SHCOMP, HSI, SENSEX


By: Meghavi Singh, SA News Editor
Display of Stock market quotes with city scene reflect on glass

Nikada

As the sun rises on the final trading day of 2023, Asia-Pacific markets appear sluggish with a hint of ambition. Japan’s (NKY:IND) stocks show a meager decline of -0.22%, while the country’s 10-year government bond yield aims for its fourth consecutive annual gain, speculation rife that the Bank of Japan may bid adieu to its negative interest rate policy next year.

Meanwhile, China (SHCOMP) scales a modest +0.61% as mainland stocks enjoy a third consecutive session of ascent on the wings of investors’ aggressive buying, fueled by expectations of piquant valuations and forthcoming policy easing.

On the other hand, Hong Kong (HSI) sees a slight dip of -0.07%, accompanied by India (SENSEX) at -0.21% and Australia (AS51) at -0.31%.

Across the ocean, the U.S. saw its major indexes wrapping up Thursday in a muted fashion, nestled comfortably near their all-time peaks, buoyed by anticipations of an interest rate trim by the Federal Reserve in the approaching year.

As the final trading day beckons, U.S. stock futures remain unwavering, with the Dow anticipating a +0.12% surge, the S&P 500 looking forward to a +0.18% climb, and the Nasdaq edging towards a +0.16% rise – signifying an epoch of robust annual gains for Wall Street.

Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).

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