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Asia

Asia futures indicate a flat open the day after Christmas

Stock markets in Asia are poised to open flat on Tuesday in what’s likely to be light, holiday-week trading.

Nikkei futures traded in Chicago pointed to a flat opening, while those traded in Osaka indicating a very small decline at the open. The benchmark Nikkei 225 had closed at a 26-year high in the last session, despite thin holiday trade.

Hong Kong, Australia and New Zealand markets remain closed on Tuesday.

Exchanges in much of the world were closed on Monday as well, including Australia, South Korea, Hong Kong and Singapore. U.S. and European markets were also closed, though New York will be back in action on Tuesday.

A couple pieces of economic data are expected out of Japan on Tuesday, with the consumer price index and household spending figures both anticipated at 7:30 a.m. SIN/HK.

In currencies, the dollar index, which tracks the greenback against a basket of six major currencies, was a touch softer at 93.263 at 6:55 a.m. HK/SIN. The dollar was steady against the yen at 113.28.

Meanwhile, bitcoin was relatively stable in the last session after the cryptocurrencylost around a quarter of its value in volatile trade ahead of the Christmas weekend. That was despite news out of Israel that regulators would be looking into prohibiting bitcoin-focused companies from trading on the stock exchange, according to Reuters.

After touching a high of $14,572.98 on Monday, the cryptocurrency traded at $13,711.20 at 6:49 a.m. HK/SIN, according to industry site CoinDesk.

Japan and China turned in a mixed performance on Christmas Day, in light trading.

The Nikkei 225 and Topix indexes edged higher on Tuesday — both rising 0.16 percent — while Chinese markets closed lower.

In China, the Shanghai Composite index finished the day down 16.22 points or 0.49 percent at 3,280.84. The smaller Shenzhen index ended down 0.93 percent at 1883.89.

Taiwanese stocks also finished lower, moving in a narrow range.

China’s yuan strengthened on Monday, reaching its highest level in three-and-a-half months against the U.S. dollar. The Japanese yen also edged higher against the dollar.

Japanese stocks were confined to a narrow range on Monday, with foreign investors lacking due to the closure of other major markets for Christmas.

Of Tokyo’s 33 subsectors, 10 were in the red, Reuters reported. Those moving lower were led by securities and banking after their U.S. financial peers lost steam on Friday.

The economic calendar for Tuesday is fairly crowded, with several markets in the region coming back from the Christmas holiday (all times in HK/SIN):

  • 7:30 a.m.: Japan unemployment rate and inflation data
  • 7:50 a.m.: Bank of Japan policy meeting minutes
  • 12:00 p.m.: Thailand November new car sales
  • 1:00 p.m.: Singapore November inflation
  • 5:00 p.m.: Philippines budget balance

Source: cnbc china
Asia futures indicate a flat open the day after Christmas

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