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Global market update: APAC shares mixed, Japan's retail sales surpass expectations

EditorOliver Gray
Published 2023-12-27, 08:22 p/m
© Reuters
- - Share markets across the Asian Pacific were trading in a mixed fashion during Thursday's deals, with the ASX 200 nearing two-year peak levels, while Japanese shares experienced a drop at the opening following a rally in the previous session.

Trading resumed in markets including Australia and Hong Kong on Wednesday after the Christmas break, with both markets ending on a positive note. Chinese stocks also saw an uplift, driven by a recovery in online gaming stocks.

The S&P/ASX 200 index in Australia saw an increase of 0.5%, maintaining its highest level since late April 2022. The index is projected to conclude the year with a significant gain, up by 7.7%.

In contrast, Japan's Nikkei 225 experienced a 0.4% dip, following a more than 1% increase in the previous session. The broader Topix index also declined by 0.3%.

Japan's retail sales figures revealed a 5.3% growth in November, surpassing expectations of 5%.

South Korea's KOSPI 200 opened 0.3% higher, striving to maintain the gains from the previous session, while the smaller Kosdaq index decreased slightly by 0.19%.

Futures for Hong Kong's Hang Seng index indicated a potential for a higher opening compared to the HSI's previous close of 16,624.84.

In the US, stocks ended higher on Wednesday as traders monitored the S&P 500's progress towards record levels. The S&P 500 saw a slight increase of 0.14%, while the Nasdaq Composite added 0.16%. The Dow Jones Industrial Average rose by 111.19 points, or 0.3%, to finish at 37,656.52.

The Dow achieved a new closing high, while the S&P 500 ended less than 0.5% short of its record closing level of 4,796.56 set in January 2022. Along with the Dow and Nasdaq, the S&P is also on an eight-week winning streak, its longest since 2017.

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