Global Markets Quiet Ahead of Christmas Holiday
25 December 2019 - 12:20AM
Dow Jones News
By Anna Hirtenstein
Markets were largely quiet ahead of the Christmas holiday, with
some increases in Asia building on gains from the latest step
forward in U.S.-China trade relations.
"It's very thin volumes at this time of year, markets move on
very small amounts of share trading," said Gerry White, chief
investment commentator at Charles Stanley. "General tones for next
year are that things are looking a little brighter, which is
reflected in these market movements today such as in Asia."
The Shanghai Composite Index closed up 0.7%. Korea's Kospi index
slipped 0.6%, falling for the second day as traders booked profits
at the year-end. Oil rose, with both Brent and WTI adding 0.5%.
The Chinese government said yesterday it would reduce tariffs on
more than 850 imported products, including frozen pork,
pharmaceuticals and some high-tech components starting in the new
year. The government in Beijing also said that it would expand the
list later in the year.
In Europe, the Stoxx Europe 600 and the U.K.'s FTSE 100 both
edged up 0.1%.
In the U.S., futures tied to the S&P 500 also gained 0.1%.
The stock markets in the U.S. will close early at 1 p.m. ET, and
bond markets at 2 p.m. The British pound advanced 0.2% against the
euro, trading at EUR1.1689 per pound sterling and reversing course
after yesterday's drop related to Brexit concerns.
Gold added 0.4%, extending yesterday's rally and reaching the
highest level since Nov. 4, reflecting some caution about the state
of the global economy.
Write to Anna Hirtenstein at anna.hirtenstein@wsj.com
(END) Dow Jones Newswires
December 24, 2019 08:05 ET (13:05 GMT)
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