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Asia bonds mixed; Hong Kong and Taiwan lead

Hong Kong’s Hang Seng index jumped 1.1 percent, adult for a third true session, with financials AIA and ICBC both scarcely 2 percent higher. The index was on lane to finish 2016 with a 0.4 percent rise.

Taiwanese shares rallied 1.1 percent interjection to nearby 1 percent increases in heavyweights TSMC and UMC; a benchmark index finished a year adult 11 percent .

The Shanghai composite finished adult 0.24 percent during 3,103 points, notching a 12 percent detriment for a year. The yuan was Asia’s worst-performing banking in 2016, with a 6.6 percent detriment opposite a greenback.

Beijing is set to change a proceed it calculates a daily yuan median in a new year by doubling a series of unfamiliar currencies in a basket used to set a yuan value, China’s unfamiliar sell marketplace user pronounced late on Thursday. “This shows that a supervision is perplexing to adopt a some-more stretchable proceed to stabilise a yuan opposite a backdrop of a strengthening U.S. dollar,” pronounced Margaret Yang, marketplace researcher during CMC Markets.

Markets in a Philippines and South Korea were close on Friday.

Overnight, U.S. indices finished reduce after a Dow regularly unsuccessful to strike a fugitive 20,000 mark. Historically, a week between Christmas and New Year’s Day has led to a swell in a cost of stocks, dubbed a Santa Claus rally.

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Article source: http://www.cnbc.com/2016/12/29/asia-markets-focus-on-dollar-weakness-commodities-on-last-trading-day-of-2016.html

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