Asian shares mix while European stocks advance

Asian shares mix while European stocks advance

Picture used for illustrative purpose. File



Gulf Today Report

Asian shares mixed on Wednesday as cheer from President Trump's stimulus package relief dies down. 

 

Benchmarks fell in Tokyo and Sydney but rallied in Hong Kong, Seoul and Shanghai. 

 

Hong Kong's Hang Seng surged 1.6% to 26,989.87, while the Shanghai Composite index advanced 1% to 3,411.44. South Korea's Kospi jumped 1.9% to 2,837.08. 

 

Japan's Nikkei 225 fell 0.5% to 27,444.17, a day after it surged more than 2% to its highest level in more than 30 years. Japanese markets will be closed Thursday through the end of the week, reopening Jan. 4. 

 

In Australia, the S&P/ASX 200 lost 0.3% to 6,682.40. Shares rose in Taiwan but fell in India and Southeast Asia.

 

According to economists, the stimulus is essential to tide the economy as cases soar forcing governments to close borders. 

Investors have looked forward to the stimulus for a long time. 

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