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Markets Mixed Into Year End

EQUITIES

Asia-Pac equity indices are mixed on Wednesday amid thin volumes heading into year end.

  • US markets pulled back from record highs as optimism re: approval of the U.S. House for increasing stimulus checks was moderated by Senate Majority Leader McConnell's objection to a motion to pass the bill unanimously. It now seems unlikely the Senate will have chance to consider the deal before Congress adjourns Sunday. Attention will now turn to Senate elections in Georgia on Jan. 5. US Futures have ticked slightly higher in Asia, while European bourses are indicated lower.
  • Coronavirus concerns continue to weigh globally. The Covid-19 strain discovered in the U.K. has been found in the U.S., a second cluster of infections is emerging in Sydney and the UK looks set to tighten containment measures.
  • In Japan the Nikkei 225 pulled back after hitting the highest levels for 30 years yesterday, participants will watch the index for a close above 27,000 today – the last trading day of 2020. Nikkei 225 last down 0.5% at 27,430.
  • Markets in China and South Korea have been outperformers, up over 1%. South Korea is seeing equity markets hit record highs as retail investors park cash on the final trading day of 2020.

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