Stock market today: Asian shares are mostly higher in thin post-Christmas holiday trading
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Asian shares were mostly higher Thursday in thin post-Christmas holiday trading, while oil prices rose. Japan's Nikkei 225 index surged 0.8% to 39,449.55, on strong gains in retailers and tourism-related stocks after Japan agreed to ease visa conditions for Chinese tourists.
Isetan Mitsukoshi Holdings, a major department store group, gained 7%. J. Front Retailing Co., owner of the Matsuzakaya and Daimaru department store groups, jumped 8.8%. Automakers also saw large gains. China and Japan also agreed Wednesday to conduct talks on contentious security issues and other sources of friction during a visit by Japanese Foreign Minister Takeshi Iwaya to Beijing, where he met with Chinese Premier Li Qiang and Foreign Minister Wang Yi.
South Korea's Kospi slipped less than 0.1% to 2,438.85, while the Taiex in Taiwan gained 0.2%. The Shanghai Composite index edged less than 0.1% higher, to 3,395.41. Thailand's SET was up 0.1%. Markets were closed Thursday in Hong Kong, Australia, New Zealand and Indonesia.
U.S. markets were closed on Wednesday and will reopen Thursday, when an update on U.S. unemployment benefits is due. Gains in Big Tech stocks contributed to a “Santa rally” for Tuesday’s shortened holiday session. The S&P 500 gained 1.1%, while the Dow Jones Industrial Average rose 0.9%. The Nasdaq composite climbed 1.3%.
Also early Thursday, U.S. benchmark crude oil was up 27 cents at $70.37 per barrel. Brent crude, the international standard, picked up 24 cents to $73.31 per barrel. The dollar rose to 157.43 Japanese yen from 157.19 yen. The euro fell to $1.0401 from $1.0410.
