Asian shares trade mixed with some exchanges closed ahead of the New Year

Asian stock markets showed a mixed performance on Wednesday, with several major exchanges closed for year-end and New Year holidays.

Markets in Tokyo and Seoul were shut, while trading continued elsewhere in the region. In China, Hong Kong’s Hang Seng Index fell 0.9% to 25,630.54, whereas the Shanghai Composite edged up 0.1% to 3,969.75. Taiwan’s Taiex advanced 0.9% to 28,963.60. Australia’s benchmark S&P/ASX 200 in Sydney slipped marginally, falling less than 0.1% to 8,714.30.

Tokyo markets are scheduled to remain closed through Friday for New Year holidays and will reopen on Monday, while South Korean markets will also be closed on Thursday.

On Wall Street, trading continued Wednesday ahead of a holiday closure on Thursday, though activity remained subdued. The S&P 500 slipped 0.1% to 6,894.24, though it remains on course for an annual gain exceeding 17%. The Dow Jones Industrial Average lost 0.2% to 48,367.06, and the Nasdaq composite declined 0.2% to 23,419.08.

Technology stocks continued to carry significant influence. Nvidia and Apple posted modest declines, while Meta Platforms gained 1.1% following news of its acquisition of artificial intelligence startup Manus.

Commodities saw stronger moves, with gold rising 1.4% and silver surging nearly 11%. Copper climbed 4.4% and is up more than 40% for the year on strong demand tied to global energy needs and AI-related infrastructure.

In energy markets, oil prices edged slightly lower, while U.S. Treasury yields were mixed amid expectations that the Federal Reserve will keep interest rates unchanged at its January meeting.