FILE PHOTO: A woman wearing a protective mask, amid the COVID-19 outbreak, walks past an electronic board displaying Japan and other countries' stock indexes outside a brokerage in Tokyo, Japan, September 21, 2021. REUTERS/Kim Kyung-Hoon
Asia Session Market Wrap Up
- Asian equities were neutral as US stocks rose to a new all-time high amid light trading in the final days of the year. Treasury yields continued to rise.
- China’s damaged property developers and regulatory crackdown are once again in the spotlight as the year 2022 approaches. Two investors holding China Evergrande dollar bonds with coupons, due Tuesday, complained they had not yet been paid.
- Alibaba Group is in talks with a state-owned Chinese corporation about selling its investment in Weibo a twitter-like social media service. Beijing is taking steps to limit the influence of China’s tech behemoths in the media. Alibaba’s stock remained stable in Hong Kong.
- Shares varied in Japan, China, and Hong Kong, where artificial intelligence behemoth SenseTime soared on its maiden day of trading. After the S&P 500 set its 70th record closing of the year, US equities futures were little moved.
- The 10-year treasury yield has risen over its 50-day moving average for the first time in almost a month. Australia’s 10-year bond rate has also risen. The dollar index remained stable and crude oil increased.
- World record, U.S. reports 484,377 new coronavirus cases