EQUITIES
Shares in Asia-Pacific mostly rose in Friday trade. Hong Kong’s Hang Seng index advanced 0.13%, while the mainland Shanghai composite retreated 0.38% lower.
In Japan, the Nikkei 225 climbed 0.06%, the South Korea’s KOSPI gained 0.59%, the Australia’s S&P/ASX 200 rose 0.44%, and the Singapore’s Straits Times index added 0.40%.
Some markets in Asia-Pacific, including Australia, Singapore, and Hong Kong, are set to close early due to Christmas Eve.
Overnight on Wall Street, main indexes posted solid gains for a third straight session. The S&P 500 rose 0.62% to close at a new record of 4,725.79. The Dow Jones Industrial Average jumped 196.67 points to 35,950.56 while the Nasdaq Composite climbed 0.85% to 15,653.37.
U.S. markets are closed on Friday for the Christmas holiday.
OIL
Oil prices fell on Friday in thin, holiday trade after a three-day rally, with investors trying to gauge the Omicron coronavirus variant's impact on demand.
The benchmark was still on track for a weekly gain of about 4%. Oil prices have recovered this week as fears over the impact of the highly infectious Omicron variant on the global economy receded, with early data suggesting it causes a milder level of illness.
The Brent now traded at $76.28 per barrel, and U.S. crude futures traded at $73.72 per barrel.
Overnight, the Brent futures ends at $76.85 a barrel, while the WTI crude oil prices closed to $73.79 per barrel.
CURRENCIES
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 96.061 following its slide earlier this week from around 96.6. The greenback was headed for its worst week since September.
U.S. Treasury markets will be closed on Friday for the holiday. The yield on benchmark 10-year Treasury notes was 1.4926 at their Thursday close having touched more than a one-week high of 1.5010% earlier in the session as investors sold government bonds as part of the risk-on mood.
Bitcoin trading just above $51,000 on Friday, held onto 4.5% gains on Thursday.
GOLD
Spot gold was looking firmer at $1,809.20 an ounce, rising 0.30% helped by a weak dollar. U.S. gold futures added 0.53% to $1,811.70.
Spot silver rose 0.53% to $22.94 an ounce, platinum added 0.7% to $975.10, and palladium jumped to $1,956.90.
ECONOMIC OUTLOOK
Most Asian share markets edged higher on Friday as reduced Omicron fears helped boost risk appetite and expected would not significantly derail global economic growth.
Data shows that Omicron poses lower risk of hospitalisation, and its patients also suffer milder symptoms, though investors remained cautious amid surging infection cases.
Meanwhile, latest data showed the number of Americans filing new claims for unemployment benefits held below pre-pandemic levels last week, while consumer spending increased solidly, putting the economy on track for a strong finish to 2021. Initial claims for state unemployment benefits were unchanged at a seasonally adjusted 205,000 for the week ended Dec 18, the Labor Department said. Early this month, claims dropped to a level last seen in 1969.
Trading volumes were expected to be thinner than usual ahead of the Christmas and New Year holidays. Some markets will close early on Friday and will remain shut on Monday and Tuesday for Christmas and Boxing Day holidays.
