BANGKOK (AP) — World markets displayed mixed performance on Thursday, as the U.S. stock market remained closed to honor a National Day of Mourning for former President Jimmy Carter.
European Markets Show Modest Gains
European shares posted modest gains amid a quiet trading day. Germany’s DAX edged up by 0.1% to close at 20,342.60, while France’s CAC 40 advanced 0.6% to 7,500.22. Meanwhile, the UK’s FTSE 100 climbed 0.8%, ending the session at 8,319.89.
Asian Markets Mostly Decline Amid Trade Concerns
Asian markets largely declined as investors grew cautious over potential trade tensions with the incoming U.S. administration under President-elect Donald Trump.
Japan: The Nikkei 225 index fell 0.9% to 39,605.09 following reports of strong wage growth in November, raising concerns over a possible interest rate hike by the central bank. The dollar weakened against the yen, with a dollar buying 158.08 yen, down from 158.36 yen the previous day.
Hong Kong: The Hang Seng index slipped 0.2% to 19,240.89.
China: The Shanghai Composite dropped 0.6% to 3,211.39. Economic data revealed that the consumer price index (CPI) rose a mere 0.1% in December year-on-year, while producer prices fell 2.3%, reflecting continued weak demand in the world's second-largest economy.
Australia: The S&P/ASX 200 fell 0.2% to 8,329.20.
South Korea: The Kospi saw a marginal gain of less than 0.1%, closing at 2,521.90, buoyed by strong performance in the technology and automotive sectors.
Taiwan and India: The Taiex in Taiwan declined 1.4%, while India’s Sensex was down 0.7%.
Thailand: The SET index in Bangkok fell sharply by 1.8%.
Market Commentary
Stephen Innes of SPI Asset Management noted the persistent volatility in global markets, stating, “Investors continue to navigate the unpredictable ‘what if’ trading landscape shaped by Trump’s presidency. Initial enthusiasm for tax cuts is now overshadowed by mounting concerns over proposed tariffs and geopolitical ambitions.”
U.S. Bond Market and Treasury Yields
While the U.S. stock market was closed, bond trading continued with a recommended closure at 2 p.m. Eastern time. Yields on 10-year Treasuries eased slightly, dipping to 4.65% after reaching 4.70% the previous day. This followed several stronger-than-expected U.S. economic reports, which have fueled concerns over potential inflationary pressures from President-elect Trump’s policies, including tariffs and tax reforms.
Upcoming Economic Data
The next significant event for Wall Street will be the release of the U.S. Labor Department’s monthly employment report on Friday. Investors hope the report will show job growth strong enough to mitigate recession fears but moderate enough to allow the Federal Reserve to continue its rate-cutting cycle.
Commodities
In commodities, U.S. benchmark crude oil rose 0.6% to $73.74 per barrel, while Brent crude, the international benchmark, also climbed 0.6% to $76.58 per barrel.
Conclusion
Global markets remain mixed as investors digest regional economic data and brace for potential shifts in U.S. trade and fiscal policies under the new administration. With U.S. markets closed, attention turns to upcoming economic reports that could shape market sentiment and influence central bank decisions in the near term.
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