· A broad gauge of Asian share markets rose to an 18-month high on Monday as Chinese equities gained, while oil touched three-month highs on a combination of U.S. crude inventory drawdowns, trade optimism and unrest in the Middle East.
But European shares were expected to open lower as investors take a breather from recent rallies.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose to its highest since June 19 before trimming gains. It was last up 0.05%.
· Japanese stocks ended slightly lower on the last trading day of the year as investors booked profits ahead of New Year holidays, although the Nikkei average held near three-decade highs in dollar terms.
The Nikkei share average fell 0.76% to 23,656.62 on Monday, further from a 14-month peak of 24,091 hit about two weeks ago. The broader Topix lost 0.68% to 1,721.36.
· China’s blue-chip index closed at an eight-month high on Monday, as the country’s central bank planned to switch benchmark for floating-rate loans to lower funding costs, while investors cheered signs of economic resilience following a Sino-U.S. trade truce.
The blue-chip CSI300 index rose 1.5% to 4,081.63, its highest closing level since April 19, while the Shanghai Composite Index ended up 1.2% at 3,040.02.
China’s central bank said on Saturday it will use the loan prime rate (LPR) as a new benchmark for pricing existing floating-rate loans, in a step that analysts say could help lower borrowing costs and underpin economic growth.
Reference: Reuters, CNBC
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