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Thin Holiday Trading Splits Asian Markets as Yen and Won Firm on Intervention Signals

European shares were little changed, with energy supported by reports of new Russia–Ukraine infrastructure strikes.

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Overview

  • Bank of Japan minutes signaled a cautious approach toward potential interest rate increases.
  • Tokyo’s Nikkei slipped 0.14% as the yen strengthened on official warnings of possible currency action.
  • Seoul’s Kospi fell 0.21% while the won gained, after the central bank and Finance Ministry reiterated plans to curb excessive moves and a government FX task force was reported active.
  • The People’s Bank of China added liquidity via reverse repos, lifting the yuan to its strongest level since late last year and helping Shanghai and Shenzhen close higher, with Shengyi Technology up 10%.
  • In Europe, the Stoxx 600 edged up 0.05% in thin trade, as BP outlined a $10 billion sale of Castrol to Stonepeak and Sanofi announced a $2.2 billion deal for Dynavax.