Asian currencies and stock continue to edge higher

2021 is slipping away, and we are ready to welcome 2022. The last week of the year began on a happy and positive note due to the steady performance of Asian stocks as well as currencies. Despite very minor fluctuations, Asian economies are completely stable, and the industrial activities are going in full swing. The Singapore's dollar was in a firm condition after making a lead of 0.2%. It was followed by the Taiwanese dollar and the South Korean won. Both made a gain of 0.1% each. Even a small gain generates a ray of hope. The greenback (.DXY) remained steady.

The stocks in Malaysia (.KLSE) and Taiwan (.TWII) rose by 0.7%. Similarly, the performance of other markets was completely stable. In the last week of the year, some markets are closed for public holidays, but there is no negative effect on financial activities. The situation is completely stable in China and the Shanghai equities (.SSEC) raised by 0.2% after a good sell-off. The property firms also made marginal gains. Malaysia's benchmark stock index managed to touch a record high point, a five-week high. A massive jump of 8% was seen by Top Glove Corp which is the world’s leading latex glove manufacturer. Elsewhere the stock market was stable.

The US equity futures were steady just like the Asian stocks. The alert traders move very cautiously and they also evaluate the overall situation. Many investors are also monitoring the steps of China’s central bank. The effect of economic support is visible in the performance of the economy. Hence, the investors do analysis of the ongoing situation. Before the Christmas break, the Nasdaq 100 contracts and the S&P 500 edged up after following an all-time for the US stocks. It was a high flying time for S&P 500. Some countries such as China are taking concrete steps to keep the economy in a stable condition. Recently, China's Central Bank vowed to provide better support for the economy.

The condition of the oil market is relatively stable. In most of the nations, the restrictions have been eased on travelling. More and more people are travelling after taking necessary precautions. The oil producing nations also keep a tab on the global demand and overall situation. the oil producing countries will start increasing the oil production by about 4,00,000 barrels per day. A growth is being seen in the US oil and gas rig counts. In 2021, the oil demand managed to come back and next year it is likely to touch record high figures.

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