Hong Kong
Asian markets were mixed Monday with activity thinning as investors wind down for the end of the year, with lingering optimism over easing US-China trade tensions driving some gains. Stocks took their lead from a mixed finish to a quiet week on US trading floors after the Dow edged to a fresh record on Friday, but the Nasdaq retreated after 10 straight all-time highs. Hong Kong was up 0.40 percent and Shanghai almost one percent higher. Tokyo’s Nikkei lost 0.76 percent as investors cashed in ahead of the New Year holidays, but the final day of trading still saw the benchmark end 18.2 percent up from a year earlier. Sydney, Jakarta and Manila were also marginally down. “Investors appear to be growing a tad apprehensive about chasing the record setting US equity market risk-reward premise into year-end,” Stephen Innes, chief Asia market strategist at AxiTrader said in a note. Analysts have attributed the latest run of US records to upbeat investor sentiment based on a lower risk of recession in the immediate future, a mellowing of US-China trade tensions, and accommodative monetary policy. Stocks have followed a nearly unbroken line upward since early October, drifting higher much of last week in the quiet period between the Christmas and New Year holidays.—Agencies
