World Shares Retreat as 2024 Trading comes to a Close
Global markets are winding down for the year with some losses as trading volumes thin out. Tokyo’s Nikkei 225 closed 1% lower at 39,894.54, marking a subdued end to the year amidst an apology from the CEO of the Japan Exchange Group for a recent insider trading incident. The CEO emphasized the importance of investor trust for a confident trading environment and pledged to take steps to rebuild confidence.
In early European trading, Germany’s DAX and France’s CAC 40 both saw 0.4% decreases, while Britain’s FTSE 100 dropped 0.4% as well. U.S. futures indicated a 0.3% decline for both the S&P 500 and the Dow Jones Industrial Average.
Elsewhere, South Korea’s Kospi fell 0.2%, with Jeju Air Co. shares declining 8.7% following a tragic accident involving one of their jets. This incident added to Boeing’s challenges this year, which have included safety issues, strikes, and plummeting stock prices.
Meanwhile, in South Korea, law enforcement officials sought a court warrant to detain impeached President Yoon Suk Yeol over a controversial martial law decree. The situation in Hong Kong and China saw modest declines and gains, with the Hang Seng down 0.2%, the Shanghai Composite up 0.2%, and Australia’s S&P/ASX 200 dipping 0.3%.
The S&P 500 had closed 1.1% lower on Friday. As markets look ahead to the year-end, the impact of recent events and geopolitical issues on market sentiment remains uncertain.
