Asian shares drop as world markets closed

bangkok: Shares slipped in Tokyo and Shanghai on Wednesday, two of only a handful of world markets open on Christmas day.

Japan’s Nikkei 225 index edged 0.1 per cent lower to 38,997.02, while the Shanghai Composite index lost 0.2 per cent to 3,387.41.

Thursday will bring a weekly update on US unemployment benefits.

Also early Wednesday, US benchmark crude oil was up 93 cents at USD 70.17 per barrel. Brent crude, the international standard, picked up 6 cents to $73.23 per barrel. The US dollar rose to 157.37 Japanese Yen from 157.11 Yen. The Euro rose to $1.0431 from $1.0397.

On Tuesday, stocks closed higher on Wall Street in a shortened holiday session. Gains in Big Tech stocks helped the S&P 500 to a 1.1 per cent gain, while the Dow Jones Industrial Average rose 0.9 per cent. The Nasdaq composite climbed 1.3 per cent. Advancers outnumbered decliners by more than 3-to-1 on the New York Stock Exchange. Tesla jumped 7.4 per cent for the biggest gains among S&P 500 stocks.