Investors are in wind-down mode as the Christmas break approaches (Daniel ROLAND)
<p>Hong Kong (AFP) – Asian markets were mixed in early trade Monday with activity thinning out as investors wind down for the Christmas break, while confidence remains buoyed by relief at the China-US trade deal.</p><p>Global equities are enjoying a flourish at the end of the year, having been on a rollercoaster ride for 12 months owing to the long-running trade row and Brexit.</p><p>And observers say that with those two major issues cleared up for now, 2020 could see a healthy run-up in prices, boosted by looser central bank monetary policy as well as signs of improvement in economies around the world.</p><p>Wall Street provided yet another record-breaking lead after data confirmed the US economy enjoyed reasonable growth in the third quarter, while other reports showed personal income and consumer confidence improving.</p><p>The New York gains lent some support to Asian markets, though they were fluctuating through the morning.</p><p>Hong Kong added 0.2 percent and Shanghai rose 0.1 percent while Tokyo went into the break 0.2 percent higher.</p><p>Wellington and Taipei were also up but Sydney fell 0.3 percent, Seoul and Manila each shed 0.2 percent and Singapore retreated 0.1 percent.</p><p>With very little by way of market-moving events on the horizon, analysts are expecting a quiet week.</p><p>"Short of a significant headline bomb… Asia is likely to be in extended lunch mode ahead of the midweek break globally," said Jeffrey Halley, senior market analyst at OANDA.</p><p>Oil prices extended Friday’s losses as Kuwait and Saudi Arabia close in on a deal that will see them restart output in a shared zone along their border.</p><p>Production has been on hold in the region for about four years and the restart could see as much as 500,000 barrels hit the market.</p><p>Still, prices are up around a fifth over the year, with support coming from news of the China-US trade deal.</p><p></p><p>- Key figures around 0230 GMT – </p><p></p><p>Tokyo – Nikkei 225: UP 0.2 percent at 23,858.86 (break)</p><p>Hong Kong – Hang Seng: UP 0.2 percent at 27,934.50</p><p>Shanghai – Composite: UP 0.1 percent at 3,006.77</p><p>Pound/dollar: UP at $1.3009 from $1.3000 at 2140 GMT</p><p>Euro/pound: DOWN at 85.14 pence from 85.20 pence</p><p>Euro/dollar: UP at $1.1076 from $1.1074</p><p>Dollar/yen: DOWN at 109.42 yen from 109.47 yen</p><p>Brent North Sea crude: DOWN seven cents at $66.07 per barrel</p><p>West Texas Intermediate: DOWN five cents at $60.39 per barrel</p><p>New York – Dow: UP 0.3 percent at 28,455.09 (close)</p><p>London – FTSE 100: UP 0.1 percent at 7,582.48 (close)</p><p></p>

Disclaimer: Validity of the above story is for 7 Days from original date of publishing. Source: AFP.