On Wednesday, the Japanese stock exchange concluded the moving COVID year 2020 with a small loss. Investors took a step back after the strong advance a day earlier, pushing the main index in Tokyo to the highest level since August 1990. A more expensive Japanese yen created some price pressure on the major export companies. The other stock exchanges in the Asian region showed mostly profits.
The Japanese Nikkei finished 0.5 percent lower on the last trading day of the year at 27,444, 17 points, after the 2.7 percent price rise a day earlier. The main index was 16% profit this year. It was the second win year in a row. In 2019, the Nikkei won over 18 percent. In Tokyo, the financial markets are closed on Thursday and Friday for the New Year’s celebration. Trade will resume again on Monday 4 January.
In Shanghai, the stock exchange yardstick was 0.7% higher in the interim and the Hang Seng index in Hong Kong was 1.4% higher. In China, economic growth from 2019 was revised to 6%. Earlier, a growth rate of 6.1% was reported for the year. In Sydney, the Australian All Ordinaries dropped 0.3 percent.
The Kospi in Seoul recorded 2% higher on the last trading day of the year. The stock exchange in South Korea is closed Thursday and Friday. In Hong Kong, Shanghai and Sydney, New Year’s Eve trade is taking place. By Friday, all major markets in the Asian region are closed.
Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at email@example.com