In Asian Equity Markets indices were little changed on Monday, following last week’s market turmoil stateside. South Korea’s Kospi pared some of its earlier losses but continued to trade down by 0.14 percent, with industry heavyweight Samsung Electronics declining 0.26 percent and chip-maker SK Hynix recovering to rise 0.5 percent. Australia’s ASX 200 recovered from some of its earlier losses to see gains of about 0.3 percent, with most sectors trading higher.
In Currency Markets the Japanese yen and the Swiss franc rose on safe-haven buying on Monday as investors grappled with political instability in the United States and fears of a global economic slowdown. Trading volumes were thinning out with most global markets set to shut for Christmas, while Japan was closed on Monday for a holiday. The yen gained 0.2 percent, changing hands at 111.03. The euro was up a touch and last fetched $1.1369 on the dollar.
In Commodities Markets oil prices fell on Monday ahead of the Christmas holiday break, adding to last week’s steep losses on concerns about a global oversupply. International benchmark Brent crude futures fell 27 cents, or 0.5 percent, to $53.55 a barrel. Brent touched $52.79 on Friday, its lowest since September 2017. U.S. West Texas Intermediate (WTI) crude futures eased 8 cents, or 0.1 percent, to $45.51 a barrel. WTI hit its lowest since July 2017 on Friday at $45.13.
In US Equity Markets stocks fell in volatile trading on Friday, with the Nasdaq on pace to confirm it is in a bear market, as concerns of slowing economic growth led investors to flee stocks in high-valuation sectors such as technology and communication services. The S&P 500 lost 1.40 percent, to 2,432.81 and the Nasdaq Composite fell 2.37 percent, to 6,373.84. The tech-heavy Nasdaq fell to a 15-month low.
In Bond Markets U.S. Treasury yields held near eight-month lows on Friday as President Donald Trump threatened a “very long” government shutdown and investors were reluctant to hold risky assets over the weekend. Benchmark 10-year yields were little changed on the day at 2.792 percent. The yield fell to a more than eight-month low of 2.748 percent on Thursday, well off a seven-year high of 3.261 percent reached on Oct. 9.