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Asian stock markets celebrate holidays

DATE OF PUBLICATION: 2020-12-25 14: 08: 22 On the Japanese and Chinese stock exchanges this morning there is no significant dynamics, stock indicators behave with restraint and are in no hurry to show activity. Marketplaces in Hong Kong, South Korea and Australia did not open at all today due to the Catholic Christmas holidays. Japan’s Nikkei 225 dropped lower this morning. However, the drop was quite insignificant – minus 0.03%. The main reason for this decline is the profit taking by investors, which occurred after a significant recovery amid positive news about the long-awaited adoption of the financial stimulus package in the United States of America. However, literally yesterday, everything changed dramatically. Again, insurmountable circumstances have arisen that make signing the long-awaited bill almost impossible. We will remind, according to the latest data, the still acting American president refused to sign the draft program, because he considered the amount of payments to citizens of the state too low. He demanded that the government increase the aid package, and quite significantly – from $ 600 to $ 2,000. Naturally, the Republican Party sharply criticized this demand, while the Democrats eagerly supported it. One way or another, difficulties arose again on the way of passing the bill, which will be very difficult to overcome. This, of course, cannot but affect the mood of investors, who hasten to reduce their activity in the market in anticipation of specific decisions and positive changes. At the same time, there are good statistics on economic growth in Japan itself. In particular, the level of retail sales in the country in the last month of autumn increased by 0.7% compared to the same period last year. However, it is worth noting that the increase has slowed somewhat compared to the previous month, when it saw a sharp 6.4% increase. The preliminary forecasts of analysts also turned out to be slightly better than the real data: an increase of at least 1.7% was expected. The unemployment rate in Japan in the penultimate month of the year fell substantially, reaching even the lowest values ​​last observed at the beginning of this summer. The fall reached 2.2%. China’s Shanghai Composite index went up 0.8% in the morning. At the same time, the main pressure on the indicator comes from the news from the National Bank of the country. According to the latest data, the chief regulator has allocated 40 billion yuan, or $ 6.13 billion, to banks for reverse repurchase transactions. All this news will be enough for now to support the positive background on the trading floors of the Asia-Pacific region during the holidays. However, then the whole situation will again depend on macroeconomic indicators and political decisions. Material provided by InstaForex – Source – InstaForex

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