Japan stocks set to trade lower as Wall Street declines from record highs

  • Wednesday is the final trading day in 2020 for stocks in Japan and South Korea as their markets will be closed on Thursday.
  • Overnight on Wall Street, stocks declined as lawmakers in Washington continued to disagree over direct payments to Americans. The losses stateside snapped a three-day winning streak for both the Dow Jones Industrial Average and S&P 500.

SINGAPORE — Stocks in Asia-Pacific declined in Wednesday morning trade after major indexes on Wall Street snapped their multi-day winning streaks overnight.

The Nikkei 225 in Japan slipped 0.35% in early trade on Wednesday, after surging more than 2% on Tuesday to close at a level not seen since August 1990, according to data from Refinitiv. The Topix index dipped 0.7%.

South Korea's Kospi declined 0.13%. Shares in Australia also fell, with the S&P/ASX 200 down about 0.9%.

MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.16% lower.

Wednesday is the final trading day in 2020 for stocks in Japan and South Korea as their markets will be closed on Thursday.

Overnight on Wall Street, stocks declined as lawmakers in Washington continued to disagree over direct payments to Americans.

The Dow Jones Industrial Average dipped 68.30 points to close at 30,335.67. The S&P 500 ended its trading day 0.2% lower at 3,727.04, while the Nasdaq Composite slipped 0.4% to close at 12,850.22. Tuesday's losses stateside snapped a three-day winning streak for both the Dow and S&P 500.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 89.994 as it slipped below the 90 level.

The Japanese yen traded at 103.52 per dollar, having strengthened from levels above 103.8 against the greenback seen earlier this week. The Australian dollar changed hands at $0.7611, following a bounce this week from around the $0.756 level.

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