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Mixed, Holiday Thinned Session

EQUITIES

A mixed session to end the year, Chinese equity markets were the outperformers from the off as participants rode the risk on wave in the region which saw USD/CNH drop below 6.50 and the CSI 300 rise around 1%.

Markets shrugged off data that showed China's manufacturing and services PMIs came in slightly weaker than expectations for December.

  • Australia underperformed, the ASX 200 fell 1.43% in a holiday shortened session. A surge in coronavirus cases in the region sapped risk sentiment. The cluster in New South Wales continues to grow while 3 new cases were found in Victoria which has led the government to impose stricter containment measures from tomorrow.
  • In general Asia-Pac shares are closing out the year near highs. MSCI's gauge of Asia-Pacific shares excluding Japan explored fresh territory repeatedly late in the year. The index is set for a fourth-quarter gain of over 19% which would be its strongest three-month performance since 2009.
  • Markets in South Korea and Japan were closed. US futures are slightly higher, while European futures are indicated lower.
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