On Thursday morning (26 December, 9:30 AM, GMT+7, Bangkok time), major indices in Asia Pacific traded mixed while markets in Australia, New Zealand, and Hong Kong were closed for the Boxing Day holiday.
As per a Reuters report on Wednesday regarding a draft document, Japan was in the process of finalizing a historic $735 billion budget for the fiscal year commencing in April, aimed at addressing rising social security and debt servicing expenses.
Moreover, BOJ Governor Kazuo Ueda expressed confidence that by 2025, Japan’s economy would be approaching a sustainable 2 percent inflation rate, supported by wage growth.
As for China, the government revealed on Wednesday its ongoing commitment to stabilizing and halting the downturn in the country’s real estate sector throughout 2025. The strategies outlined will involve managing the commercial housing supply to enhance overall market stability.
Meanwhile, investors in Asia will be monitoring the release of Singapore’s manufacturing output data for November.
Japan’s NIKKEI increased by 0.48% to 39,318.25, while South Korea’s KOSPI dropped by 0.25% to 2,434.46.
As for stocks in China, Shanghai’s SSEC dipped by 0.14% to 3,388.48, while Shenzhen’s SZI surged by 0.28% to 10,632.79.
Meanwhile, the US stock markets were closed on Wednesday for Christmas Day.
As for commodities, oil prices slightly increased on Thursday, buoyed by optimism surrounding potential fiscal stimulus in China. Furthermore, expectations of a drop in U.S. crude stockpiles contributed to the upward trend. Brent futures climbed 11 cents or 0.2% to $73.69 a barrel by 0148 GMT, and the West Texas Intermediate (WTI) gained 15 cents or 0.2% to $70.25 per barrel.
This morning, Brent futures edged up 16 cents or 0.22% to $73.74 a barrel, and the WTI expanded 16 cents or 0.23% to $70.26 per barrel.
Meanwhile, gold futures added 0.31% to $2,643.8 per Troy ounce.
