Tuesday, 29 December 2015

AsiaTtrade Mixed as Prospects for Santa Claus Rally Fade

Asian equities traded mixed on the second day in the final week of trading for 2015, following a lower finish on Wall Street, with prospects for a last-ditch Santa Claus rally appearing dim. 

Angus Nicholson, market analyst at spreadbetter IG, said in a morning note that the overnight selloff in oil prices and a late-afternoon drop in Chinese equities on Monday set Asia up for a weak open.

 The Shanghai Composite suffered a near 2.6 percent drop on Monday.

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