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Asian stocks lower in light trading after Christmas

by December 26, 2016 General

BEIJING (AP) — Stock markets in Japan and China declined Monday in light trading after Christmas with most other Asian markets closed.

KEEPING SCORE: The Shanghai Composite Index fell 1.1 percent to 3,075.11 and Tokyo’s Nikkei 225 lost 0.1 percent to 19,410.43. Seoul’s Kospi gained 0.1 percent to 2,037. Taiwan also gained. Markets in Hong Kong, Australia, Singapore, Indonesia and Malaysia were closed.

WALL STREET: U.S. stocks edged up on their final trading day before the holiday, boosted by health care companies. Botox maker Allergan rose 2.6 percent and Bristol-Myers Squibb picked up 1.4 percent. Health insurer Aetna added 1 percent. Defense contractor Lockheed Martin fell after President-elect Donald Trump again tweeted the company’s F-35 fighter jet costs too much. The Dow Jones industrial average picked up 14.93 points, or 0.1 percent, to 19,933.81. The Standard & Poor’s 500 index gained 2.83 points, or 0.1 percent, to 2,263.79. The Nasdaq composite rose 15.27 points, or 0.3 percent, to 5,462.69.

CURRENCY: The dollar declined to 117.11 yen from Friday’s 117.32 yen. The euro edged up to $1.0458 from $1.0453.

ENERGY: Oil markets were closed for the holiday. On Friday, benchmark U.S. crude gained 7 cents to close at $53.02 per barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, added 11 cents on Friday to close at $55.16 in London.