A weaker yen lifted theNikkei 225 0.3% while the Shanghai Conmposite fell 0.2%, the Hang Send dropped 0.3% and the MSCI index of Asian-Pacific shares exclusive Japan remained flat. Markets in Hong Kong,Australia and New Zealand were closed. The Kospi was up 0.18%.
Gold, according to the Wall Street Journal, edged slightly higher. 0301
Spot gold prices are slightly higher in Asia hours, with trading choppy and lacking conviction amid no clear drivers in the holiday season. Gold likely will trade in a narrow band this week, barring no major unexpected international developments. “Definitely when people come back, they will reposition themselves,” says Helen Lau of Argonaut. Ms. Lau expects returning traders considering gold bets will look at such factors as U.S. dollar strength and macroeconomic data signaling the health of the U.S. economy, terrorism, and tensions between China and the U.S. Spot gold prices are last up US$2.95, trading at $1,136.12/oz.
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