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Asian Markets Closed Higher Mostly While European Markets Are Steady

ByAvaTrade
AuthorAvaTrade
Published 12/31/2013, 03:38 AM
Updated 02/02/2022, 05:40 AM

Asian markets closed mostly higher on the first trading day of the week. The Japanese index closed the year in a positive territory and was by far the best performing index of the region with a gain of almost 56% for this year. Most of these gains were experienced on the back of the yen weakness as the Bank of Japan kept its ultra loose monetary policy in place which was extremely beneficial for the export oriented sector. The Chinese equity market on the other side, experienced a bit of a roller coaster and the Shanghai index was without any doubt was the worst performing index in the region. The index is down nearly 7.3% during this year.

The volume remained very thin during the session as most investors are wary of taking any bigger position ahead of the Chinese official purchasing managers index data which is due later this week.

The Nikkei index was the best performer during the session and it closed higher with a gain of 0.69%. The index is up nearly by 2.65 % in the past 5 days. The Hang Seng index was the second best index during the session and it gained nearly 0.01%. However, the Shanghai index also closed lower with a loss of 0.15%.

European stock markets are steady during the early hours of trading after the weekend break. The IBEX index is the performing index during the session and it is trading up with a gain of 0.22%. The index is up almost by 2.38% in the past 5 days. The FTSE 100 and the CAC 40 are also trading higher with a gain of 0.11% and 0.10%. Finally, Ibex is also trading higher with a gain of 0.68%.

by Naeem Aslam

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