Friday, 22 December 2017
Asian stocks settle higher in the last trading session before Christmas
Asian equity
indexes were mainly higher on Friday, following Wall Street’s optimistic close
as investors head to the Christmas holidays.
In South Korea,
blue chip companies have risen in the session, pushing the Kospi to the upside.
As tensions between Korean and Chinese officials remain in place, THAAD-related
stocks continued to trend lower.
In Australia,
mining and energy sectors led gains, boosting the S&P/ASX 200. Oil futures
settled in green territory on Thursday as market participants following a
larger-than-expected reduction in crude stockpiles reported by the US Energy
Information Administration.
U.S. stocks
finished higher on Thursday after some companies said they would spend the
savings stemming from lower corporate taxes on higher wages and new
construction.
The Dow Jones
industrial average increased 55.64 points to end the session at 24,782.29. The
S&P 500 added 0.2 percent to 2,684.57, while the Nasdaq composite was flat
at 6,965.36.
The US economy
expanded at a 3.2 percent year-over-year rate in the third quarter of this
year, data from the Commerce Department showed.
Market analysts had
forecasted a 3.3 percent increase in the gross domestic product, above a 3.1
percent seen in the second quarter, which was the fastest build since Q1 2015.
In other news, the
Senate approved a stop-gap spending bill that allows the government avoid a
shutdown in the upcoming days. This move comes after the passing of a major tax
reform meant to reduce taxes for individuals and corporations.
Pres. Donald Trump
could sign Republican-backed tax and government funding bills later today.
<<< Next
in Europe >>>
Ahead in the day,
attention will be directed to the German GfK Consumer Climate index for
January, with a 10.8 points reading seen.
Also, market
players will be focusing on the releases of UK Q3 business investment, current
account and gross domestic product as of 09:30 GMT.
<<< Next in
the United States >>>
In the United
States, attention will be directed to durable goods orders and personal
spending for November as of 13:30 GMT, while Michigan University’s consumer
expectations and sentiment will be out at 15:00 GMT. New home sales are up at
the same time.
<<< Asian
Stock Indexes at 05:30 GMT >>>
Australia ASX
S&P +11.70 +0.19% 6,168.00
Shanghai
Composite +2.69 +0.08% 3,302.75
Hong
Kong Hang Seng +77.39 +0.26% 29,444.45
Japan
Nikkei 225 +30.50 +0.13% 22,896.60
Taiwan
TSEC 50 Index +19.96 +0.19% 10,508.93
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