· Stock futures advance as market tries to reclaim record highs
U.S. stock index futures were slightly higher in early morning trading on Wednesday as the market tried to reclaim record highs.
Contracts tied to the Dow Jones Industrial Average gained 71 points. S&P 500 futures and Nasdaq 100 futures traded in mildly positive territory.
· Asian shares hit record high as investors bet on recovery next year
Asian shares hit a record high on Wednesday as investors bet on a strong economic recovery next year, as there is little sign policymakers wind back massive stimulus efforts aimed at staving off coronavirus-fuelled downturns.
MSCI’s gauge of Asia-Pacific shares excluding Japan rose 0.6% to hit a record high, led by gains in Chinese shares, bringing its gains so far this year to 18.2%.
Japan’s Nikkei share average lost 0.58% on its last trading day of 2020 after jumping to a 30-year high on Tuesday. For the year, it was up 15.8%.
The blue-chip CSI300 index rose 1.4% to 5,113.71 points, its highest close since June, 2015. The Shanghai Composite Index advanced 1.1% to 3,414.45 points.
· Nikkei slips from over 30-year high, but posts gains for 2020
Japan’s Nikkei share average ended lower on the last trading day of the year, retreating from a more than three-decade high hit in the previous session as investors booked profits, but it logged gains for a second straight year.
The benchmark Nikkei share average fell 0.45% to 27,444.17 on Wednesday, after closing at its highest level since Aug. 16, 1990 in the previous session.
The broader Topix slipped 0.8% to 1,804.68, pulling back from its highest level since October 2018 reached on Tuesday.
On the year, the Nikkei was up 16% compared to an 18.2% gain in 2019. It rose nearly 18.4% in the quarter, marking the biggest quarterly gain since the three months ended March 2013.
The Topix was nearly 4.8% higher in 2020 after climbing more than 15.2% in the previous year.
Japanese financial markets will be closed from Thursday and reopen on Monday, Jan. 4.
· European markets open flat despite positive vaccine news; Brexit trade deal vote ahead
European stocks opened flat on Wednesday as positive momentum wanes following the reaching of a post-Brexit trade deal between the EU and U.K. last week.
The pan-European Stoxx 600 index opened just above the flatline but rose to trade up 0.13%. London’s FTSE 100 index also opened higher after the coronavirus vaccine developed by the University of Oxford and AstraZeneca was authorized for emergency use in the U.K.
Reference: CNBC, Reuters
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