Markets across Asia were closed for the Christmas holiday.
Australia, Hong Kong, India, and so on have scheduled trading holidays for Wednesday.
However, markets in Japan, China, and Taiwan were open.
Japan’s Nikkei 225 saw a slight decline during the trading session, reflecting muted investor sentiment.
Konami, Rakuten, and Fuji Electric suffered the steepest decline on the Nikkei, with shares falling over 2%.
Giants like Suzuki and Yamaha also saw dips, adding to the overall market weakness.
On the flip side, Nissan Motor surged ahead with an over 8% gain.
Toyota and Nippon Steel were also in the green.
Taiwan’s Weighted Index gained 0.62%, signaling positive momentum in that market.
Meanwhile, China’s Shanghai Composite Index traded in the red.
The CSI 300 index was also in the red on Wednesday.
Globally, trading volumes remained thin as several markets were closed for the festive season, leading to subdued investor activity.
Wall Street sees signs of Santa rally
US stocks rallied sharply in a truncated Christmas Eve session, continuing their upward momentum for a third straight session.
The major indices closed at their session highs, with the Dow Jones Industrial Average rising 390.08 points, or 0.9% to 43,297.03.
The tech-heavy Nasdaq Composite surged 266.24 points, or 1.4%, to 20,031.13, while the S&P 500 gained 65.97 points, or 1.1%, to end at 6,040.04.
The rally was driven by bargain hunting following last week’s sell-off, which had pushed the Dow and S&P 500 to one-month lows.
Optimism about the broader market outlook, despite the Federal Reserve signaling fewer rate cuts than previously anticipated in 2025, also fueled the gains.
Below-average trading volumes likely exaggerated the upward moves, as many traders stayed away from their desks ahead of the Christmas holiday.
Markets also closed earlier than usual, further limiting participation.
A quiet economic calendar contributed to the light trading day, with key data such as durable goods orders and new home sales released earlier in the week after an executive order from President Joe Biden closed federal offices for Christmas Eve.
The New York Stock Exchange closed early at 1 pm ET on Christmas Eve, while the bond market followed suit at 2 pm.
Both markets will remain closed on Wednesday in observance of Christmas Day.
The S&P 500 turned positive for the month, posting a modest 0.1% gain following this week’s advances.
The Nasdaq has led the charge in December, rallying 4.2%.
Notable contributors include Alphabet, which is up 16%, Apple with a nearly 9% gain, and Tesla, which has surged approximately 34% month-to-date.
Meanwhile, the Dow Jones Industrial Average lags behind, down 3.6% in December, on track for its worst monthly performance since April.
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