Nikkei Closes 2020 With Small Minuses

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The Japanese stock market closed the eventful corona year 2020 with a small minus on Wednesday. Investors took a step back after the strong advance the day before.

 

This pushed the main index in Tokyo to its highest level since August 1990. A more expensive Japanese yen caused some price pressure on the major export companies. The other stock markets in the Asian region predominantly showed gains.

The Japanese Nikkei ended 0.5 percent lower at 27,444.17 points on the last trading day of the year, after a 2.7 percent price jump the day earlier.

The main index posted a gain of 16 percent this year. It was the second profit year in a row. In 2019 the Nikkei won more than 18 percent. In Tokyo, the financial markets are closed on Thursdays and Fridays for New Year celebrations. Trading will resume on Monday, January 4.

In Shanghai, the stock market gauge was 0.7 percent higher, and the Hang Seng index in Hong Kong was 1.4 percent higher. In China, 2019, economic growth was revised to 6 percent. Previously, an increase of 6.1 percent had been reported for the year. In Sydney, the Australian All Ordinaries fell 0.3 percent.

The Kospi in Seoul was up 2 percent on the last trading day of the year. The South Korea stock exchange is closed on Thursdays and Fridays. In Hong Kong, Shanghai and Sydney, New Year’s Eve trade do take place. On Friday, all major markets in the Asian region are closed.

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