DAILY MARKET NEWS

EQUITIES

Asia-Pacific markets higher on Thursday. The South Korea’s KOSPI gains 1.26%, leading the Asian markets. The Japanese Nikkei 225 added 0.39%, the Hong Kong’s Hang Seng index added 0.16%, while the Shanghai Composite slipped -0.21%. The Singapore’s Straits Times index rose 0.33%, and the Australia’s S&P/ASX 200 0.33% higher.

Markets in Australia, Hong Kong, Singapore are set to close early on Thursday for Christmas Eve.

Overnight on Wall Street, the Dow Jones Industrial Average rose 114.32 points, or 0.38%, to 30,129.83, the S&P 500 gained 2.75 points, or 0.07%, to 3,690.01 and the Nasdaq Composite dropped 36.80 points, or 0.29%, to 12,771.11.

OIL

Oil prices settled more than 2% higher as draws in U.S. inventories of crude, gasoline and distillates lifted investors' hopes for some return in fuel demand. The Brent crude futures traded to $51.57 a barrel, while U.S. crude at $48.44.

Oil prices settled more than 2% higher on Wednesday, as Brent closed at $51.20 per barrel, while WTI futures ended at $48.12 per barrel.

CURRENCIES

The dollar index was at 90.24 following Wednesday’s slide.

The Aussie dollar traded at $0.7584 following a 0.14% jump. Thailand baht ticked up 0.1% against the dollar after the country's central bank left its key interest rate unchanged as expected.

GOLD

Gold prices edged higher over lower economic recovery expectation, trading at $1,873.60 per ounce, while added to around $1,878.60 per ounce for gold futures. Previously closed at $1,872.40 and $1,878.10, respectively.

Silver trading at $25.74, platinum trading at $1,015.00 and palladium trading at $2,214.00.

ECONOMIC OUTLOOK

Asian shares were set to rise on Thursday ahead of the Christmas break, as global investors cheered a potential Brexit deal and global economic recovery prospects, ignoring U.S. President Trump's threat to not sign the stimulus aid package and concern about a new variant of the coronavirus.

Mixed U.S. economic data showed lower jobless claims and an uptick in new orders for durable goods, while a pullback in consumer spending, falling personal income and fading sentiment.

The $900 billion aid package passed, agreed upon after months of wrangling in Congress, was now threated, as President Trump saying it was "a disgrace", and that he might not sign.

U.S. inventories of crude, gasoline and distillates dropped down. Crude inventories fell by 562,000 barrels in the week to Dec. 18 to 499.5 million barrels, gasoline stocks fell by a 1.1 million barrels in the week to 237.8 million barrels, and distillate stockpiles fell by 2.3 million barrels in the week to 148.9 million barrels.

Britain and the European Union are nearing a Dec 31 deadline for a Brexit transition period and have yet to agree on a trade deal.

To date, number of confirmed worldwide cases for COVID-19 pandemic has surpassed 78.679 million affecting 213 countries and territories around the world and 2 international conveyances, recording more than 1.73 million fatality globally.