Thursday, 28 December 2017
Asian stocks recover despite low trading activity
Asian stock markets
were mostly higher on Thursday amid low activity ahead of the New Year’s
holiday and as a rally in oil prices continued to support energy-related
equities.
Oil prices settled
higher overnight, adding to previous day gains and trading at levels not seen
since mid-2015 as disruptions in Libya and the North Sea continued to support
benchmarks.
The American
currency remained under pressure as downbeat economic data from the United
States failed to offer support, exposing it to further downward pressure across
the board.
The US dollar
index, which measures the greenback against six major currencies, was trading
0.15 percent lower at 92.47 by the time of this writing.
The Conference
Board’s consumer confidence dropped to 122.1 in December from a revised
previous month reading of 128.6, below economists' estimate for a reading of
128.
In other news,
pending home sales added 0.2 percent month-on-month in November, the National
Association of Realtors reported on Wednesday. A 0.4 percent draw was seen.
Dow Jones 28.09 0.11% 24774.30
S&P 500 Index 2.12 0.08% 2682.62
NASDAQ Composite 3.09 0.04% 6939.34
Tech giant Apple,
which plunged by 2.5 percent on Tuesday after a Taiwanese media outlet said
iPhone X sales forecasts might be lower-than-expected, added 0.02 percent in
the prior session.
<<< Next
in Europe >>>
The European
Central Bank will present its economic bulletin as of 09:00 GMT.
<<< Next
in the United States >>>
Investors will be
paying attention to the release of goods trade balance figures for November and
initial jobless claims in the United States as of 13:30 GMT.
<<< Asian
Stock Indexes at 07:10 GMT >>>
Australia ASX
S&P +19.70 +0.32% 6,189.40
Shanghai
Composite +18.11 +0.55% 3,293.90
Hong
Kong Hang Seng +185.49 +0.63% 29,783.15
Japan
Nikkei 225 -127.23 -0.56% 22,783.98
Taiwan
TSEC 50 Index +80.97 +0.77% 10,567.64
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