Stock market today: Asian shares advance after a mixed finish on Wall Street
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Asian shares were mostly higher on Friday, with Japan’s benchmark registering strong gains for a second straight day. Oil prices and U.S. futures declined. Tokyo's Nikkei 225 index climbed 1.4% to 40,139.90, while the Japanese yen sank further after the central bank governor indicated that interest rate hikes might be delayed by threats to the economy such as higher U.S. tariffs on imports.
The dollar fell to 157.66 Japanese yen from 158.00 yen. It had been trading below 150 yen until the past few days. Hong Kong's Hang Seng edged 0.1% higher to 20,120.54, while the Shanghai Composite index was up 0.3% at 3,407.89. South Korea's Kospi was the outlier, falling 1.4% to 2,393.60 after the country's main opposition party submitted a motion on Thursday to impeach the country’s acting leader over his reluctance to fill three Constitutional Court vacancies ahead of the court’s review of rebellion charges against impeached President Yoon Suk Yeol stemming from his short-lived martial law decree on Dec. 3.
“U.S. equities are stuck in a holding pattern as trading volumes dry up following the holiday break,” Stephen Innes of SPI Asset Management said in a commentary. “Liquidity remains razor-thin, and market moves appear more about year-end housekeeping than aggressive positioning.”.
The S&P 500 fell less than 0.1% to 6,037.59 after spending the day wavering between small gains and losses. The tiny loss ended the benchmark index’s three-day winning streak. The Dow Jones Industrial Average added 0.1% to 43,325.80 and the Nasdaq composite fell 0.1% to 20,020.36.
