Stock Market Today: Asian markets are flat in holiday trading

On Tuesday, Asian markets were steady in holiday-thin trading, with some markets in the region closed for the holiday.

US futures and oil prices rose.

Shanghai's benchmark led to losses on a heavy sell-off in technology and computer chip-related stocks in Asia as worries about trade tensions with the US and other Western countries revived.

The Shanghai Composite Index fell 0.8% to 2,894.72. In Shenzhen, where relatively more high-tech companies are listed, the A-share index lost 1.3%.

Tokyo's Nikkei 225 was down less than 0.1% at 33,244.50. In South Korea, the Kospi added 0.1% to 2,601.67. Bangkok's SET rose 0.2%. Taiwan's Dax rose 0.7% and Mumbai's Sensex rose 0.4%.

Markets in Australia and Hong Kong were closed.

Japan's unemployment rate was steady at 2.5% in November, according to government data released on Tuesday. The job-to-applicant ratio eased slightly, settling at 1.28, indicating about 128 job openings for every 100 applicants.

On the other hand, Japan's services producer price index, which measures the costs of goods and services businesses provide to other companies and government agencies, was steady at 2.3% in November. This indicates a gradual pass-on of labor costs and the potential for sustained wage gains, supporting the Bank of Japan's 2% inflation target.

US and European markets were closed on Monday, with some in Europe closed for Boxing Day. On Friday, Wall Street ended its eighth straight week of gains with a quiet finish Inflation is on the decline Although the economy appears stronger than expected.

Wall Street was closed Monday for the Christmas holiday.

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On Friday, the S&P 500 rose 0.2% to sit less than 1% below its record of 4,754.63 nearly two years ago. The Dow fell less than 0.1% to 37,385.97, while the Nasdaq gained 0.2% to 14,992.97.

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

In other trading on Tuesday, U.S. crude oil rose 26 cents to $73.82 a barrel in electronic trading on the New York Mercantile Exchange. International benchmark Brent crude was up 28 cents at $79.08 a barrel.

The US dollar fell to 142.23 Japanese yen from 142.33 yen. The euro rose to $1.1024 from $1.1016.

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