STI posts slight losses ahead of new year
Asia markets refusing to join last-gasp trade euphoria on Wall St, instead focusing on book-squaring and profit-taking
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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."
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