Asian stocks in narrow ranges after US tech boost
Shares swung between gains and losses in Japan and edged lower in Australia, with shortened sessions in Hong Kong and Sydney for Christmas Eve. US equity futures were little changed in Asia after a gauge of the “Magnificent Seven” technology megacaps rose 1.4% Monday, offsetting weaker-than-expected US consumer confidence data.
“This is the time of the year when there’s a lot of noise and little to no signal in price action,” said Kyle Rodda, senior market analyst at Capital.Com. “There’s a high chance of a pretty slow day for the region and an uneventful rest of the week as a high proportion of the markets log off for the holidays.”
MSCI’s Asian equity benchmark is headed for its first quarterly loss since September 2023, losing 7.1% over the period, even as the S&P 500 has risen 3.7%. Sentiment has soured in Asia in recent months due to concerns over higher global tariffs threatened by US President-elect Donald Trump, a stronger dollar and China’s lackluster economic recovery.
Treasury 10-year yields were little changed Tuesday at 4.58%, while Bloomberg’s gauge of the dollar climbed 0.1%, holdings around a two-year high after a US government shutdown was averted.
Stock Trading
Options Trading Made Easy: Options Trading Course
By — Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant
Stock Trading
Technical Analysis for Everyone — Technical Analysis Course
By — Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities
Stock Trading
Introduction to Technical Analysis & Candlestick Theory
B
