NEW YORK (AFX) - Tokyo's stock prices slipped Monday as traders held off moves before the release of economic data. Shanghai surged to a new record on buying of bank shares, while most other Asian markets were closed for Christmas Day.
Markets in the U.S. and Europe were also closed for the holiday.
The Tokyo Stock Exchange's benchmark Nikkei 225 stock index fell 12.07 points, or 0.07 percent, to finish at 17,092.89.
Monday's retreat came after the index added 57.13 points to finish 0.34 percent higher at 17,104.96 points last Friday -- its highest close since May 9.
Market sentiment was cautious Monday ahead of some economic indicators due this week, including November household spending on Tuesday, as traders want to see whether the data are likely to discourage the Bank of Japan from hiking interest rates next month.
In Shanghai, the benchmark index soared to another closing record as traders bought banks on hopes China Life Insurance will make a strong debut in January.
The Shanghai Composite index advanced 3.9 percent to 2,435.76 points. It rose as much as 4.6 percent during the day but retreated on profit taking.
The Shenzhen Composite Index jumped 1.5 percent to 543.42 points.
In currency trading, the U.S. dollar gained against both the euro and the Japanese yen in Tokyo.
Thailand's key stock market index ended slightly higher Monday on bargain hunting in blue chip banks, although most foreign investors stayed away awaiting further action by the government.
The Stock Exchange of Thailand's benchmark SET index rose 0.6 percent, or 4.01 points, to close at 684.32.
Since hitting a nine-year low of 35.09 baht last Monday, the U.S. dollar has strengthened, closing Monday at 36.43 baht, little changed from its Friday close of 36.44.
Thai shares plunged nearly 15 percent last Tuesday after the central bank announced regulations restricting foreign capital inflows in an effort to curb the baht's appreciation.
Authorities quickly lifted the controls on foreign stock investments but retained the curbs on bonds and other debt instruments, prompting the benchmark index to bounce back 11 percent Wednesday.
Stock markets in Hong Kong, Jakarta, Kuala Lumpur, Manila, Mumbai, Seoul, Singapore, Sydney and Wellington were closed.
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