GLOBAL MARKETS DJIA* 35950.56 196.67 0.55% Nasdaq* 15653.37 131.48 0.85% S&P 500* 4725.79 29.23 0.62% FTSE 100 7372.10 -1.24 -0.02% Nikkei Stock 28713.36 -69.23 -0.24% Hang Seng Closed Kospi 3007.91 -4.52 -0.15% SGX Nifty* 16964.50 -33.5 -0.20% *Dec contract USD/JPY 114.41-42 +0.02% Range 114.44 114.31 EUR/USD 1.1317-20 -0.04% Range 1.1328 1.1312 CBOT Wheat* March $8.146 per bushel Spot Gold $1,811.22/oz 0.5% Nymex Crude (NY)* $73.90 $1.14 *Markets in the U.S. were closed Friday. U.S. STOCKS
U.S. stock indexes closed higher Thursday in the holiday-shortened trading week, with the S&P 500 notching a new high, as investors digested economic data and developments related to the Omicron variant's spread.
The S&P 500 was up 0.6%, or 29.23 points, at 4725.79, its 68th record close in 2021. Thursday's rise, its third consecutive daily increase, followed a Wednesday session during which strong economic data helped ease investors' concerns about the risks posed by Covid-19 and inflation. The tech-focused Nasdaq Composite rose 0.85%, or 131.48 points, to 15653.37. The Dow Jones Industrial Average added 0.55%, or 196.67 points, to 35950.56.
ASIAN STOCKS
Japanese stocks were lower, dragged by falls in energy and airline stocks, due to economic uncertainty over the Omicron variant and governments' responses. Nitori Holdings dropped 8.8% after the furniture retailer's nine-month net profit fell 1.3% on year. Any developments over the Omicron variant were in focus. The Nikkei Stock Average was down 0.4% at 28667.06.
South Korea's Kospi edged 0.1% lower to 3009.62 after fluctuating between gains and losses early in the morning session, and could consolidate amid somewhat subdued trading as investors await cues following the U.S. stock markets' Christmas holiday. Index heavyweight Samsung Electronics was down 0.4% after Yonhap News Agency reported Friday that the company's memory chip complex in China's Xian city went into emergency mode as Chinese authorities enforced a pandemic-related lockdown.
Chinese stocks were mixed in morning trade, extending a range-bound trading pattern since last week. The benchmark Shanghai Composite Index shed 0.1% to 3616.21, while the Shenzhen Composite Index was also down 0.1% at 2490.15. The ChiNext Price Index, a measure for the performance of emerging industries, was the only gainer with a 0.2% increase, mainly led by battery suppliers and biotech firms. Bohai Securities reckoned overall trading volume and sentiment may remain muted this week ahead of the New Year holidays, but it saw a potential rebound in the coming weeks as Omicron concerns ease and China's monetary policy loosens.
Markets in Hong Kong are closed Monday for a holiday.
FOREX
Asian currencies consolidated against USD amid somewhat thin trading during the year-end holiday period. Regional currencies could continue to be rangebound until next week, when the U.S. December non-farm payrolls data are released. With unemployment dropping and inflation rising, the Fed has said that it will taper its support for the economy more quickly, and expects to raise rates three times next year, Phillip Futures notes. USD/KRW edged 0.1% lower to 1,185.83, USD/SGD was down 0.1% at 1.3566 and AUD/USD was up 0.1% at 0.7235.
Malaysian ringgit may continue its positive momentum against U.S. dollar this week as global economic sentiment improves with Omicron fears easing, Kenanga Research said. The MYR may be supported by higher crude oil prices, favorable bond yield differentials, better-than-expected trade figures and improving domestic Covid-19 situation, it said. Most risky assets resume their risk-on rally as investors turned more optimistic about the global economic outlook, it added. USD/MYR was 0.1% lower at 4.1915.
METALS
Gold rose in the early Asian session, buoyed by lingering worry over the Covid-19 Omicron variant and geopolitical tensions. There's uncertainty about the fast-spreading variant and there are tensions on Ukraine's border with Russia, Phillip Futures said. Russian President Putin said Sunday that he would consider options if the West fails to meet his push for security guarantees precluding NATO's expansion to Ukraine, according to the Mainichi newspaper. Russian troops have been building up near Ukraine in recent weeks, spurring fears of a potential invasion. Spot gold was up 0.5% at $1,811.22/oz.
OIL SUMMARY
Oil prices were mixed in early Asian trade as focus shifts to the upcoming OPEC+ meeting on Jan. 4, where the group is expected to decide whether to proceed with a production increase of 400,000 barrels a day. Front-month WTI crude oil futures slipped 0.9% to $73.13/bbl while Brent crude oil futures were 0.1% higher at $76.24/bbl. The WTI contracts didn't trade on Friday due to the Christmas holiday.
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(END) Dow Jones Newswires
12-26-21 2215ET
