Asian Markets Trade Mixed

Asian stock markets presented a mixed performance on Thursday, influenced by the absence of global market cues due to closures for the Christmas holiday and reduced trading activity in the region, as some markets remain closed during this holiday-shortened week. Investors are also digesting news about China's central bank maintaining the interest rate on its one-year medium-term lending facility at 2% as of Wednesday. On Tuesday, most Asian markets finished higher.

The Australian stock market did not open on Thursday in observance of the Boxing Day holiday, having closed slightly higher on Tuesday ahead of the mid-week break.

In the currency exchanges, the Australian dollar is currently valued at $0.625.

Extending gains from the previous session, the Japanese stock market is experiencing a notable rise on Thursday due to the lack of external market direction following the Christmas break. The Nikkei 225 is trading significantly above the 39,300 mark, with broad-based sector gains led by major index constituents and automotive stocks.

The benchmark Nikkei 225 Index concluded the morning session at 39,336.39, marking an increase of 205.96 points, or 0.53%, having reached an intraday peak of 39,360.80. Japanese equities posted moderate gains on Wednesday.

In terms of key stocks, SoftBank Group rose by over 1%, with Fast Retailing, the parent company of Uniqlo, inching up by 0.1%. Within the automotive sector, Toyota's shares jumped nearly 4%, while Honda advanced by almost 3%.

In technology, Screen Holdings dipped by 0.1%, whereas Tokyo Electron and Advantest saw marginal movements, with Tokyo Electron edging up 0.2% and Advantest remaining unchanged.

Within the banking sector, both Mizuho Financial and Sumitomo Mitsui Financial rose by 0.1%, while Mitsubishi UFJ Financial remained unchanged.

Among the key exporters, Canon marginally decreased by 0.2%, while Panasonic, Mitsubishi Electric, and Sony registered small gains of 0.3 to 0.4% each.

Other major gainers included Mitsubishi Motors, up nearly 4%, along with Nissan Motor, Mazda Motor, and Denso, each increasing by about 3%. Conversely, there were no significant decliners.

In currency trading, the US dollar is hovering in the lower 157-yen range.

Elsewhere in Asia, indices in Malaysia and Taiwan are each up 0.8%, whereas China, Singapore, and South Korea are experiencing slight declines, ranging from 0.1% to 0.2%. Markets in New Zealand, Hong Kong, and Indonesia are closed. In the US, the stock market was closed for the Christmas holiday after ending modestly higher on Tuesday.

In Europe, major markets were also closed for the Christmas holiday, having finished mostly higher on Tuesday.

The material has been provided by InstaForex Company - www.instaforex.com
RobotFX