Wednesday, 27 December 2017

Asian stocks mixed in pre-Christmas trading

Posted by FortFS at 10:37

Asian equity markets were mixed on Wednesday, with energy-related stocks rising overnight as crude futures settled in levels not seen since May 2015.

Japan’s Nikkei 225 index traded near breakeven despite energy names moving higher, such as Japan Petroleum Exploration or Inpex, which added more than three percent in the session.

Australia’s S&P/ASX 200 also remained quiet in the day, with gains by mining components being offset by other sectors. Energy components were also up here.

South Korea’s Kospi headed South on Wednesday, falling under pressure as blue-chip technology companies eased during the session, although losses were capped by manufacturers and financial names.

Meanwhile in China, investors kept an eye on industrial data. According to Reuters, profits by industrial companies increased by 14.9 percent from the previous year. Attention also fell into iPhone X sales forecast, which according to market experts could turn into a big disappointment.

Wall Street top three indexes closed lower on Tuesday, with the Dow Jones Industrial Average standing at 24746.21, down 7.85 points or 0.03 percent and the S&P 500 at 2680.50, easing 2.84 points or 0.11 percent. The NASDAQ Composite was down 0.34 percent at 6936.25.

<<< Next in Europe >>>

Ahead in the session, traders will keep an eye on UK BBA mortgage approvals at 09:30 GMT.

<<< Next in the United States >>>

The Conference Board will present its consumer confidence for December as of 15:00 GMT and pending home sales for November at the same time.

<<< Asian Stock Indexes at 07:45 GMT >>>

Australia ASX S&P +2.40 +0.04% 6,169.70

Shanghai Composite -30.34 -0.92% 3,275.78

Hong Kong Hang Seng -13.57 -0.05% 29,564.44

Japan Nikkei 225 +18.52 +0.08% 22,911.21

Taiwan TSEC 50 Index +64.76 +0.62% 10,486.67