UNLIKE their Wall Street counterparts last Friday, Asian equities continued to have a relatively quiet but mixed session ahead of the New Year.

"Asian markets are stubbornly refusing to join in the last gasp trade euphoria prevalent on Wall Street," wrote Oanda Asia-Pacific senior market analyst Jeffrey Halley to clients.

He added: "The overall picture is one of book-squaring and profit-taking in Asia with investors preferring to wait until next week before loading up on the first trades of a new decade."