Asian shares were mostly higher on Thursday after stocks eked out small gains on Wall Street following a mixed set of reports on the economy.
Benchmarks rose in Tokyo, Hong Kong and Sydney.
stepping up official efforts to tighten control over the country’s fast-growing tech industries.
China also is ramping up its scrutiny of the practice of community group buying, summoning some of the nation’s largest tech companies for discussions as part of the anti-monopoly push.
China’s State Administration for Market Regulation also recently summoned six companies, including Alibaba and other e-commerce platforms such as JD.com
gaming company Tencent
food delivery firm Meituan
and ridesharing firm Didi Chuxing to talk about the potential ramifications of community group buying.
But elsewhere, Christmas Eve trading was upbeat. Tokyo’s Nikkei 225 index
gained 0.4% on Thursday and the Hang Seng
in Hong Kong edged 0.2% higher. In South Korea, the Kospi
jumped 1.3% and Australia’s S&P/ASX 200
rose 0.4%. Stocks advanced in Taiwan
“Although some reshuffling of portfolios in emerging Asia was to be expected ahead of the holiday break, the underlying theme is a positive one,” Jeffrey Halley of Oanda said in a commentary.
On Wednesday, the S&P 500
inched up 0.1% to 3,690.01. The benchmark index set a record high on Thursday and is up 14.2% so far this year.
Gains by financial, communication services, energy and other sectors were kept in check by declines elsewhere, including technology companies, which helped pulled the Nasdaq
An hour before trading began on Wall Street, the government released an avalanche of data on the economy that showed some optimistic signs and several disappointing ones.
The Labor Department said fewer U.S. workers filed for unemployment benefits last week. The number is still incredibly high compared with before the pandemic, but it was better than economists were expecting.
Another report said that orders for long-lasting goods strengthened by more than expected last month, a good sign for the nation’s manufacturers.
But other reports were grimmer. Consumers pulled back on their spending by more last month than economists expected. It was the first drop since April and was mainly because incomes dropped…