Asian Equities Slip as Year-End Trading Mirrors Wall Street Losses

Key Moments

Asian stock markets were mostly weaker, taking their cue from Monday’s decline in U.S. equities during thin, year-end trading.
The S&P 500 fell 0.3% to 6,905.74 but remained up more than 17% for the year and on pace for an eighth straight monthly advance.
Gold and silver resumed strong rallies, with gold up 0.9% and about 64% for the year and silver gaining 5.2% after more than doubling in 2025.

Asia Tracks Wall Street Lower in Thin Holiday Trade

BANGKOK (AP) – Asian equity markets were mostly weaker on Tuesday, with U.S. stock futures flat, as regional traders digested a modest decline on Wall Street in subdued year-end activity.

Market participation remained light with only two trading sessions left before the year concludes, as many large investors have already squared positions. Most major markets are scheduled to be shut on Thursday for New Year’s Day, with some staying closed on Friday as well.

Regional Index Performance

Major benchmarks across Asia showed a mixed but generally softer tone.

Market	Index	Move	Level
Japan	Nikkei	Edged less than 0.1% lower	50,519.12
Hong Kong	Hang Seng	Rose 0.5%	25,751.64
China	Shanghai Composite	Lost 0.1%	3,961.21
Australia	S&P/ASX 200	Slipped 0.1%	8,719.10
South Korea	Kospi	Gained less than 2 points	4,221.64
Taiwan	Taiex	Declined 0.2%	–

Wall Street Pullback Led by Big Tech

On Monday, U.S. equities eased lower in muted trading.

U.S. Index	Move	Close
S&P 500	-0.3%	6,905.74
Dow Jones Industrial Average	-0.5%	48,461.93
Nasdaq Composite	-0.5%	23,474.35

Despite the latest dip, the S&P 500 has risen more than 17% for the year and remains on course to log its eighth consecutive monthly gain.

High-valuation technology names were a notable drag. The article noted that Nvidia and several other companies tied to artificial intelligence have grown into some of the world’s largest by market value. Nvidia dropped 1.2%, while Broadcom fell 0.8%.

Recent volatility in technology and AI-related stocks has coincided with rising investor questions about whether substantial capital outlays in artificial intelligence will ultimately deliver returns that justify the spending.

Energy Stocks Track Oil Higher

Energy names moved higher alongside a jump in crude prices during Monday’s U.S. session.

Commodity	Move (Monday)	Settle Price
U.S. benchmark crude	+2.4%	$58.08 per barrel
Brent crude	+2.1%	$61.94 per barrel

Exxon Mobil advanced 1.2% on the session.

In early Tuesday dealings, U.S. crude was unchanged from its prior close, while Brent had eased by 1 cent to $61.48 per barrel.

Precious Metals Rebound After Margin-Driven Pullback

Gold and silver prices moved sharply higher again after having retreated the previous day. The earlier pullback followed a decision by the Chicago Mercantile Exchange, described as one of the largest venues for commodities trading, to require traders to post additional collateral to take positions in precious metals.

Metal	Move (Monday)	Move (early Tuesday)	Year-to-date performance
Gold	-4.6%	+0.9%	Up about 64% for the year
Silver	-8.7%	+5.2%	More than doubled in 2025

Fixed Income and Currencies

In U.S. government bond trading, yields continued to ease. The 10-year Treasury yield slipped to 4.11% from 4.13% at Friday’s close.

Yields have dropped markedly since the beginning of the year following the Federal Reserve’s decision to cut its benchmark rate in response to a cooling labor market. The shift aims to support growth by lowering borrowing costs, but it also carries the possibility of fueling inflation that is described as remaining above the Fed’s 2% target. Any growth boost from cheaper credit could be offset if higher inflation slows real economic expansion.

In early Tuesday currency trading, the U.S. dollar inched down to 156.03 Japanese yen from 156.05 yen. The euro ticked up to $1.1779 from $1.1774.

AP Business Writer Damian J. Troise contributed to this story.

Analyst Views on Exxon Mobil

The article included commentary on Exxon Mobil’s positioning relative to other analyst favorites.

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