KURE - Asia-Pacific stocks mixed in cautious trade; Chinese shares slip amid new gaming rules

2023-12-26 03:07:53 ET

Japan ( NKY:IND ) +0.16% . Bank of Japan Governor Kazuo Ueda said on Monday the likelihood of achieving the 2% inflation target was “gradually rising,” raising hopes of a potential policy normalization.

Japan’s unemployment rate stood at 2.5% in November, unchanged from the previous month and matching market forecasts.

China ( SHCOMP ) -0.68% . Investors also continued to assess the impact of China’s new rules aimed at curbing money and time spent on video games, as regulators said on Saturday that they would make improvements to their guidelines after studying public views. China moved to tighten curbs in the industry by publishing draft rules designed to reduce practices that encourage players to spend more money and time online, dampening market sentiment and pushing the index to close around its lowest level in a year.

Hong Kong ( HSI ) market closed.

India ( SENSEX ) +0.29% .

Australia ( AS51 ) market closed.

Singapore’s annual inflation rate dropped to 3.6% in November 2023 from 4.7% in the previous month. It was the lowest reading since October 2021, coming less than market forecasts of 3.8%. Food prices rose by 4.0% y/y, the least in 20 months, after a 4.1% growth in October.

Australia, New Zealand and Hong Kong markets were closed for Boxing Day holiday.

In the U.S. on Friday, all three major indexes ended mixed as investors digested cooler-than-expected US PCE data which firmed bets for Fed interest rate cuts in the new year.

U.S. stock futures edged higher on Tuesday to start the holiday-shortened week: Dow +0.20%; S&P 500 +0.22%; Nasdaq +0.35%.

Meanwhile, trading volume remained thin throughout the session as Hong Kong and other markets were shut for the holidays.

Investors continued to monitor geopolitical developments in the Middle East as recent Houthi attacks on ships disrupted global trade.

Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ).

More on Asia

• Japan November jobless rate flat at 2.5%

• Japan's November trade deficit narrows amid dip in exports dented by weak demand from China

• China keeps benchmark lending rate unchanged, amid efforts to revive slowing economy

• Bank of Japan maintains ultra-loose monetary policy; no change to dovish policy guidance

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