People take photos in front of a Christmas lighting installation in central Seoul on December 22, 2023.
Jung Eun Ji | AFP | Getty Images
Asia-Pacific markets traded mixed on Christmas Eve, after major US indexes rose overnight, supported by gains in technology stocks.
Japan Nikki 225 It fell 0.32% to close at 39,036.85 as minutes from the Bank of Japan’s October meeting showed that members agreed to continue raising interest rates if economic and inflationary expectations are met.
Japanese car maker Honda Nissan shares rose 12.69%, while Nissan shares rose more than 5% the next day. They announced the start of formal merger discussions, paving the way for the creation of the world’s third-largest automaker by sales. Discussions are scheduled to end in June 2025.
South Korea Cosby The Kosdaq Index fell by 0.06% to close at 2,440.52 while the Kosdaq Index rose by 0.13% to close at 680.11.
Consumer confidence in South Korea fell to its lowest level in more than two years. A survey released by the Bank of Korea showed that the country’s consumer confidence index fell by more than 12 points from November to 88.4 in December, falling below the 100-point level that separates optimism from pessimism.
The Hang Seng Index in Hong Kong rose 1.08% to close at 20,098.29, while the CSI 300 Index in mainland China added 1.27% to close at 3,983.69.
Australia’s S&P/ASX 200 index closed 0.24% higher at 8220.9 during the short trading day.
Overnight in the US, stocks rose as strength in technology names helped the broader market.
The Standard & Poor’s 500 index rose 0.73% to 5,974.07 points. The Nasdaq Composite Index, which is dominated by technology stocks, rose 0.98% to 19,764.89 points, as Tesla and Meta platforms added more than 2% and Nvidia shares rose more than 3%.
The Dow Jones Industrial Average erased its previous losses and ended the day up 66.69 points, or 0.16%, to 42,906.95.
Trading was thin on Monday and is expected to remain calm through the week. The New York Stock Exchange closes early Tuesday on Christmas Eve at 1 p.m. Eastern time, and the market is closed on Christmas Day.
— CNBC’s Yun Li contributed to this report.
