(Dec 26): Asian stocks looked set for another quiet year-end session on Thursday, sitting on an advance of almost 9% for the quarter thanks to ebbing concerns about U.S.-China trade tensions and expectations of a global economic pickup in 2020.
Futures were little changed in Japan and South Korea after many major financial markets were shut for the Christmas holiday. Treasuries will restart trading Thursday after the break. West Texas Intermediate crude will restart trading above $61 a barrel amid the outlook for solid global growth in 2020. China’s yuan is around 7 per dollar, while the Japanese yen remains stuck between 109 and 110.
Jobless claims in the U.S. Thursday are one of the few points of interest for traders on Boxing Day, with a number of markets still closed. In Asia, Hong Kong and Australia are among locations on holiday today.
Here are some upcoming events that may be of interest this week:
U.S. jobless claims on Thursday.
Japan retail sales and industrial production are scheduled for Friday.
Here’s some key gauges for markets:
Stocks
Futures on the Nikkei 225 were down 0.2% in Singapore.
Contracts on the Kospi Index were up 0.1% earlier.
The MSCI Asia Pacific Index dipped 0.1% Wednesday, and is up 8.6% since the end of September. It’s up almost 16% for the year.
Currencies
Japan’s yen was at 109.38 per dollar.
The euro was at $1.1092.
China’s offshore yuan was at 6.9924 per dollar.
The pound sterling was at $1.2969.
Bonds
The yield on 10-year Treasuries closed around 1.90% Tuesday.
Japan’s 10-year yields closed at -0.025% Wednesday.
Commodities
West Texas Intermediate crude rose about 1% Tuesday, to $61.11.
Gold futures were at $1,499.84 an ounce Wednesday.
Source The Edge Markets