Euro Advanced, Australia’s Dollar Climbed, Asian Stocks Were Mixed 

Asian stocks were mixed Wednesday in trading thinned by a holiday-shortened week. Oil prices breached $60 a barrel for the first time since 2015 after a pipeline blast in Libya.

Japanese equity benchmarks posted slight gains, and Australian stocks were flat after a four-day weekend. China’s domestic shares dropped, while South Korea’s weathered a cratering in Hyundai Heavy Industries Co., after the world’s No. 2 shipbuilder announced a share sale that saw its price tumble as much as 29 percent. The euro and Aussie dollar rose against the greenback.

Taiwanese shares ticked higher, with technology shares advancing. The gains suggested easing concerns about analyst downgrades of Apple Inc. iPhone X sales estimates, which sent the Nasdaq Composite Index lower overnight.

Bitcoin appeared to be forming a bottom above $15,000 after the cryptocurrency endured a week-long tumble from its record above $19,000, which was hit Dec. 18.

Among the key events remaining for investors this week:

• Vietnam, which has ridden an export boom to tiger-economy status, is forecast to report a near-7 percent growth in GDP for the fourth quarter.
• U.S. consumer confidence and trade data are on the schedule for the holiday-shortened week.
• Italy’s parliament is expected to be dissolved ahead of elections in 2018.
• Egypt decides on interest rates.

And here are the main moves in markets:

Stocks

• Japan’s Topix Index rose 0.2 percent at the close in Tokyo, not far from the Monday peak, which was the highest since 1991. The Nikkei 225 Stock Average rose 0.1 percent.
• Hong Kong’s Hang Seng index was little changed, while South Korea’s Kospi Index was up 0.3 percent.
• Australia’s S&P/ASX 200 closed little changed.
• China’s Shanghai Composite Index fell 1 percent.
• Futures on the S&P 500 Index were up less than 0.1 percent after the underlying gauge slid 0.1 percent at the close in New York, when the Nasdaq Composite fell 0.3 percent.

Currencies

• The yen was little changed at 113.19 per dollar.
• The euro advanced 0.2 percent to $1.1883.
• The British pound was at $1.3377.
• Australia’s dollar climbed 0.3 percent to 77.49 U.S. cents.

Bonds

• The yield on 10-year Treasuries was little changed at 2.47 percent, just 3 basis points higher than its start for the year.
• Australian 10-year government bond yields dropped 2 basis points, to 2.69 percent.

Commodities

• West Texas Intermediate was down 0.1 percent, at $59.75 a barrel.
• The Bloomberg Commodities Index slipped 0.2 percent Wednesday.
• Gold was at $1,282.65 an ounce after advancing 0.7 percent Tuesday.

Source: Bloomberg – Asia Stocks Mixed, Oil Touches $60, Bitcoin Flat: Markets Wrap

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