Asian stock markets displayed a mixed performance on Thursday as trading volumes remained subdued during the holiday-shortened week.
With global markets closed for Christmas and some regional markets also shut for the holidays, investors had limited cues to guide their decisions.
The MSCI Asia Pacific Index extended its upward momentum, marking a fourth consecutive day of gains—the longest winning streak since September.
Strong performances in Japan and Taiwan primarily drove the rally in the index.
Japan’s Nikkei extends gains to second day
The Japanese market extended its gains from the previous session, with the Nikkei 225 climbing above the 39,400 level.
The benchmark index ended the morning session at 39,336.39, up 205.96 points or 0.53%, supported by broad-based gains across most sectors, particularly automakers and index heavyweights.
After the break, the index gained further momentum, going up over 0.8% to 39,470.26.
Among the major gainers, Toyota surged nearly 4%, and Honda added almost 3%.
Other automakers, including Mitsubishi Motors, Nissan Motor, Mazda Motor, and Denso, saw similar increases of about 3-4%.
Market heavyweight SoftBank Group rose more than 1%, while Fast Retailing increased 0.1%.
The U.S. dollar was trading in the lower 157-yen range, reflecting stability in currency markets.
Kospi remains mixed
South Korean shares opened slightly higher on Thursday, supported by retail buying.
Gains in shipbuilding and airline stocks provided a boost, offsetting losses in technology and auto shares.
The Kospi edged up 0.39 points, or 0.02 percent, to 2,440.91 during the first 15 minutes of trading.
The index is having a volatile session today.
Chinese markets trade flat
China’s major stock indices remained flat on Tuesday, as investors struggled to find strong trading catalysts amid the subdued activity during the Christmas holiday week.
The CSI 300 Index, which tracks 300 of the largest stocks listed in Shanghai and Shenzhen, was nearly unchanged at 3,986.87.
The index has climbed up 1.5% over the past three days.
Chinese stocks have remained rangebound for the last two months as traders await the tangible implementation of the government’s stimulus measures.
Market participants are hopeful that Beijing will deliver additional interest rate cuts and increase the government borrowing limit next year, aligning with the recent policy shift signaled by top officials to prioritize economic growth.
Broader Asian markets
Elsewhere in the region, the performance was mixed:
Taiwan’s Taiex was volatile on Thursday but managed to trade to in the green.
Investors are expected to remain cautious as they await the resumption of normal trading activities next week.
The Australian and Hong Kong stock markets remained closed on Thursday for the Boxing Day holiday, having ended higher on Tuesday before the holiday break.
Markets in Indonesia and New Zealand are also closed for the day.
The subdued activity in regional markets reflects the seasonal lull and the lack of a clear global market direction.
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