Nikkei 225 shed less than 0.1 per cent to 33,244.50, the Kospi gained 0.1 per cent, to 2,601.67, SET added 0.2 per cent, Taiex advanced 0.7 per cent and the Sensex was 0.4 per cent higher

Asian markets were steady in holiday-thinned trading on Tuesday, with some markets in the region closed for holidays.

Shanghai’s benchmark led losses in Asia on heavy selling of technology and computer chip-related shares as concerns revived over trade tensions with the U.S. and other western countries.

The Shanghai Composite index dipped 0.8 per cent to 2,894.72. In Shenzhen, where relatively more high-tech firms are listed, the A-share index shed 1.3 per cent.

Tokyo’s Nikkei 225 shed less than 0.1 per cent to 33,244.50. In South Korea, the Kospi gained 0.1 per cent, to 2,601.67. Bangkok’s SET added 0.2 per cent. Taiwan’s Taiex advanced 0.7 per cent and the Sensex in Mumbai was 0.4 per cent higher.

Japan’s unemployment rate remained stable at 2.5 per cent in November, as per government data released on Tuesday. The job-to-applicants ratio experienced a marginal decline, settling at 1.28, suggesting there were nearly 128 job opportunities available for every 100 applicants.

On the other hand, Japan’s services PPI, which measures the costs of goods and services provided by businesses to other firms and government entities, held steady at 2.3 per cent in November. This suggests a gradual pass-on of increasing labour costs and potential for sustained wage gains, supporting the Bank of Japan’s 2 per cent inflation target.

U.S. and European markets were closed on Monday and some in Europe will remain closed for Boxing Day. On Friday, Wall Street closed its eighth consecutive winning week with a quiet finish following reports showing inflation is on the decline even as the economy appears stronger than expected.

Wall Street is closed on Monday for the Christmas holiday.

On Friday, the S&P 500 gained 0.2 per cent to less than 1 per cent below its record set around two years ago, at 4,754.63. The Dow slid less than 0.1 per cent to 37,385.97, and the Nasdaq added 0.2 per cent to 14,992.97.

With its eight consecutive weekly gains, the S&P 500 is in the midst of its longest winning streak since 2017.