Investing.com - Asian stock markets ended the last trading session of 2013 mixed on Tuesday, with volumes expected to remain light as many investors already closed books before the end of the year.
During late Asian trade, Hong Kong's Hang Seng Index inched up 0.27%, while Australia’s ASX/200 Index ended 0.09% lower in holiday-shortened sessions. Markets in Japan, South Korea, Taiwan, Philippines and Thailand remained shut for holidays.
Trading volumes are expected to remain limited due to the New Year’s holiday, reducing liquidity in the market and increasing the volatility.
In Hong Kong, the Hang Seng edged higher to end the year with a gain of approximately 3%. In contrast, shares in mainland China closed the year with a loss of nearly 7%.
Financial sector stocks were mostly higher despite ongoing concerns over tightening liquidity conditions and rising borrowing costs. Investors have remained cautious over the level of bad debt at Chinese banks, particularly when interbank lending rates are high.
Bank of Communications added 1.1%, China Merchants Bank climbed 1.5%, while China Citic Bank advanced 1.4%.
Elsewhere, in Australia, the ASX/200 Index drifted lower in subdued trade as market players observed a shortened session for New Year's Eve. Australian stocks posted a 15% gain for 2013, its biggest annual increase in four years.
Asia’s top performer of the year was Japan’s Nikkei, which ended the year with a gain of approximately 57%, its best annual advance since 1972.
Looking ahead, European stock market futures pointed to a flat open in thin year-end trade.
France’s CAC 40 futures was little changed, while London’s FTSE 100 futures indicated a flat open. Markets in Germany will remain closed for a holiday.
Across the Atlantic, U.S. equity markets also pointed to a steady open. The Dow Jones Industrial Average futures pointed to a gain of 0.04%, S&P 500 futures signaled a 0.02% increase, while the Nasdaq 100 futures indicated a rise of 0.02%.
The U.S. is to produce private sector data on consumer confidence and house price inflation, as well as a report on manufacturing activity in the Chicago region.
During late Asian trade, Hong Kong's Hang Seng Index inched up 0.27%, while Australia’s ASX/200 Index ended 0.09% lower in holiday-shortened sessions. Markets in Japan, South Korea, Taiwan, Philippines and Thailand remained shut for holidays.
Trading volumes are expected to remain limited due to the New Year’s holiday, reducing liquidity in the market and increasing the volatility.
In Hong Kong, the Hang Seng edged higher to end the year with a gain of approximately 3%. In contrast, shares in mainland China closed the year with a loss of nearly 7%.
Financial sector stocks were mostly higher despite ongoing concerns over tightening liquidity conditions and rising borrowing costs. Investors have remained cautious over the level of bad debt at Chinese banks, particularly when interbank lending rates are high.
Bank of Communications added 1.1%, China Merchants Bank climbed 1.5%, while China Citic Bank advanced 1.4%.
Elsewhere, in Australia, the ASX/200 Index drifted lower in subdued trade as market players observed a shortened session for New Year's Eve. Australian stocks posted a 15% gain for 2013, its biggest annual increase in four years.
Asia’s top performer of the year was Japan’s Nikkei, which ended the year with a gain of approximately 57%, its best annual advance since 1972.
Looking ahead, European stock market futures pointed to a flat open in thin year-end trade.
France’s CAC 40 futures was little changed, while London’s FTSE 100 futures indicated a flat open. Markets in Germany will remain closed for a holiday.
Across the Atlantic, U.S. equity markets also pointed to a steady open. The Dow Jones Industrial Average futures pointed to a gain of 0.04%, S&P 500 futures signaled a 0.02% increase, while the Nasdaq 100 futures indicated a rise of 0.02%.
The U.S. is to produce private sector data on consumer confidence and house price inflation, as well as a report on manufacturing activity in the Chicago region.