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Asian stocks subdued on final trading day of 2015

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 31, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - The stocks on the Asian bourses had little to look up to on the final trading day of this year and traded largely subdued, with absolutely thin volumes in Asia as most major markets, including Japan and South Korea remain closed on NYE celebrations.

    Oil remains in focus

    Among other Asian indices, the Australian benchmark, S&P/ ASX index is seen -0.45% lower at 5,295 levels, as both energy and materials sector stocks are badly hit on the back of the overnight slump in oil prices. Gold prices also fell on Wednesday tracking oil lower and therefore, weighed on the mining stocks. Rio Tinto and BHP Billiton, two of the biggest miners in the country, trading 0.58 and 1.33% lower, respectively.

    While the Chinese indices also traded in the red amid non-eventful markets as traders remain cautious ahead of Friday’s Chinese manufacturing and services PMI reports. The benchmark Shanghai Composite (SSEC) drops -0.61% to 3,550 and Hong Kong’s, the Hang Seng flat at 21,888. While China’s A50 index loses -0.72% to 10,698.
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