SINGAPORE – Shares in Australia and Japan struggled to gain on Friday, where trading volume is expected to be low as many markets in the region are closed for the start of the New Year holidays lunar.
In Australia, the ASX 200 benchmark fell 0.21%, with financial, energy and materials sub-indices struggling to make a profit.
The so-called Big Four banks in the country were traded mixed. Shares of ANZ reversed previous losses to 0.12%, shares of Commonwealth Bank also erased losses to 0.34%, Westpac traded lower 0.13% and the National Australia Bank lost 0.12%.
The Japanese market traded again after closing on Thursday for a public holiday. The Nikkei 225 fell 0.22%, while the Topix index fell fractionally.
Coins and oils
In the foreign exchange market, the US dollar was trading close to the basket of its peers. The last dollar index stood at 90,417, a touch higher than its previous close, at 90,371.
The Japanese yen changed hands at $ 104.74 at the same level as its last close at $ 104.72, while the Australian dollar traded near $ 0.7753.
Oil prices fell in the overnight session, where OPEC and the International Energy Agency warned that the recovery in demand would be hampered by renewed coronavirus-related blockades.
World benchmark Brent fell 0.5% to $ 61.14 a barrel, while US crude fell 0.8% to $ 58.24.
Reuters reported that OPEC claimed that global oil demand in 2021 would rise more slowly than expected, while the IEA said global oil supply was still outstripping demand, but Covid-19 vaccines they should help regain demand.