Today's Edition
(AFP)
Equities were mixed on Monday in quiet post-Christmas trading as investors look ahead to the release of minutes from the Federal Reserve's policy meeting this month, while precious metals retreated from record highs.
Markets looked set to end the last few days of the year on a positive note, helped by hopes for more US interest rate cuts and optimism that the tech-led rally still has more legs.
While the US central bank lowered borrowing costs earlier in December as expected, it also indicated it could stand pat when decision-makers gather again at the end of next month, with two voting against any move and one calling for a bigger reduction.
The minutes from the meeting are due to be released on Tuesday and traders will be poring over their contents for any indication about its plans for 2026.
The prospect of cuts has helped push world markets ever higher this year, offsetting niggling worries about stretched valuations in the tech sector.
On Monday, shares in Tokyo, Sydney, Wellington, Mumbai and Bangkok slipped while those in Singapore, Seoul and Manila edged up.
Shanghai was marginally higher.
London rose at the open, while Paris was flat and Frankfurt edged up.
On commodities markets, gold and silver slipped after hitting new records in recent days.
The precious metals have also enjoyed strong buying, with gold and silver both hitting record highs on expectations for more rate cuts, which makes them more desirable to investors.
On Monday gold was sitting around $4,450, having peaked a whisker shy of $4,550 on Friday, while silver slipped to $77.00 after touching a record above $80.
The white metal has also seen a sharp run-up in recent weeks owing to surging demand and tight supply.
Oil prices rose, having sunk more than two percent on Friday.
