Seoul City Skyline Rises Amid Gains in Asia-Pacific Markets
The Seoul city skyline was a sight to behold on December 16, 2020, as Asia-Pacific markets rallied in tandem with gains on Wall Street. The S&P 500 and Nasdaq Composite had reached new records overnight, and regional markets responded with enthusiasm.
Japan’s Nikkei 225 surged 2.22%, while the Topix added 1.71%. South Korea’s Kospi was up 1.71%, with the Kosdaq advancing 2.03%. The country’s inflation rate climbed to 1.5% year on year in November, slightly above expectations.
Hong Kong’s Hang Seng Index ended the day 0.65% higher, while mainland China’s CSI 300 rose 0.11% to close at 3,951.89. Australia’s S&P/ASX 200 added 0.56% to finish at 8,495.2.
Markets are bracing for a series of economic reports and comments from Federal Reserve officials that will influence interest rates in the coming days. On Wall Street, the S&P 500 added 0.24% to close at 6,047.15, the Nasdaq Composite rose 0.97% to end at 19,403.95, and the Dow Jones Industrial Average shed 0.29% to close at 44,782.00.
