Trading

Global Trade Mixed, Tokyo Closed – DTN The Progressive Farmer

Trading was closed in Tokyo and South Korea as well as Germany.

Australia’s S&P/ASX fell 1.4% to 6,587.10, while Hong Kong’s Hang Seng gained 0.3% to 27,231.13, closing early at midday. The Shanghai Composite gained 1.7% to 3,473.07.

The Tokyo exchange marked the end of trading for the year Wednesday, with the Nikkei falling 0.5%, and trading will not reopen until Monday next week. Global markets will be closed New Year’s Day Friday.

Focus has been on the continuing vaccine development around the globe, with China’s Sinopharm becoming the latest to release encouraging study results. Investors are optimistic about more vaccines gaining approval in coming weeks.

“Surely, I am not the only one who had massive doubts, but miraculously, we have about made it over the year-end finishing line in one piece,” said Stephen Innes, chief global market strategist at Axi.

Ahead of the final day of trading on Wall Street in 2020, the S&P 500 is up 15.5% this year, while the Nasdaq is up 43.4%.

The modest gains came as the effort to develop and distribute vaccines to fight the virus pandemic intensifies. Britain has authorized the use of a COVID-19 vaccine developed by AstraZeneca and Oxford University. The vaccine is considered easier to store and handle than others hitting the market. Earlier in December, both the U.K. and U.S. approved a vaccine made by Pfizer.

In energy trading, benchmark U.S.
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