Asian stock markets are mostly lower on Monday, the last trading of 2019 for some markets in the region, following the lackluster cues from Wall Street Friday and in the absence of fresh catalysts. Nevertheless, an agreement between the U.S. and China on a phase one trade deal has helped lift some of the uncertainty hanging over the markets. Trading volume continued to remain thin ahead of the New Year holidays.
Mainland Chinese stocks were higher by their close, following their Monday fall. Both the Shanghai Composite and the Shenzhen Component indices were trading higher by 1.2%. Hong Kong’s Hang Seng index gained 0.6%. Japan’s Nikkei stock index finished its last trading day of the year down 0.76%. The index gained 18.2% in 2019 after dropping 12.8% last year.
Oil also gained on Friday, with prices posting their fourth consecutive weekly gain to steady around their highest in three months. Oil’s gains followed news of U.S. air strikes in Iraq and Syria against Kataib Hezbollah, an Iran-backed militia group. Oil prices were also supported by a bigger-than-expected decline in crude inventories in the United States, the world’s biggest fuel consumer.
Gold also continued its run-up, boosted by a weak dollar, after posting its best week in more than four months on Friday amid thin trading volumes.
Monday, December 30, 2019
Tuesday, December 31, 2019
Thursday, January 02, 2020
Friday, January 03, 2020