JKB Financial Services Ltd.

As on : 26-Dec-2024

Market Commentary - Foreign Markets
26-Dec-2024 14:35

Chinese shares edge up slightly

Asian stocks ended mixed in thin holiday trade on Thursday while regional currencies were mostly lower against a resilient dollar and elevated Treasury yields amid uncertainty about the Federal Reserve's interest-rate path and U.S. President-elect Donald Trump's tariff threats. Oil and gold clung to modest gains in Asian trade.

Markets in Australia, New Zealand and Hong Kong were closed for the Boxing Day holiday. Indonesian markets were closed for Christmas.

Mainland Chinese stocks edged up slightly after authorities agreed to issue 3 trillion yuan ($411 billion) worth of special treasury bonds next year to stimulate growth and counter tariffs.

The benchmark Shanghai Composite index ended 0.14 percent higher at 3,398.08 as the People's Bank of China held the interest rate on the one-year medium-term lending facility steady at 2 percent and drained the most cash since 2014 with a one-year policy tool.

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