Asian Markets Varied Amid Thin Holiday Trading

 

Asian markets were divided on Thursday (Dec. 26). Indonesia's and Hong Kong's markets closed for Christmas, and Australia's market closed for Boxing Day. Light trading created varied movements in regional indexes.

 

Japan's Nikkei 225 saw the most notable gain, rising 1.12%. The rally was sparked by news that the Japanese government planned a record $735 billion budget for the upcoming fiscal year, addressing rising costs of social security and debt service. The move follows the Bank of Japan's abandonment of its long-standing stimulus program, placing more economic responsibility on the government.

 

In China, the remaining open markets rose slightly, with the Shanghai Composite Index up 0.14% and the CSI 300 index up 0.046%. A novel $411 billion fiscal stimulus plan for 2025 supported the little gain. But, markets awaited more clarity on the stimulus plans. Moreover, Beijing focuses on expanding fiscal spending and loosening investment regulations to boost economic growth.

 

Elsewhere in Asia, South Korea's KOSPI closed up 0.44%. As of press time, Singapore's Straits Times Index loses 0.17%. Malaysia's FTSE Bursa Malaysia KLCI adds 0.70%.