Asian markets drift

Business | 30 Dec 2019 11:02 am

Asian stocks were mixed in thin trading today, while the dollar retreated for a third straight session, Bloomberg reports.

With little more than positioning adjustments and order flows governing markets in the run-up to the New Year holiday, equities drifted at the end of a blockbuster year.

Futures on the S&P 500 Index edged up after a lackluster session Friday.

Japanese and Australian shares dropped, while Hong Kong gained and benchmarks in Sydney and Shanghai saw more modest moves.

Treasuries were flat.

The dollar fell against both major developed currencies and Asian emerging ones such as the Malaysian ringgit.

Trading may continue to be thin ahead of New Year holidays in most markets.

The MSCI Asia Pacific Index has added 4.5 percent this month, hitting its highest since June 2018. The benchmark is poised to see out the year up almost 17 percent on the back of central bank stimulus and expectations for a partial resolution of the U.S.-China trade war.

 

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