Markets subdued during U.S. holiday

TOKYO >> Global stock markets were subdued on Thursday after significant gains in recent days and as U.S. trading remained closed for the Thanksgiving holiday.

Investors have been in an upbeat mood this week, pushing the Dow above 30,000 for the first time, on news of the development of coronavirus vaccines and treatments.

They then became more cautious as coronavirus infection rates remain high in many major economies and after the release of a batch of discouraging U.S. economic data, including jobless numbers.

Germany’s DAX ended the day flat at 13,286 while France’s CAC 40 dipped about 0.1% to 5,566. Britain’s FTSE 100 slipped 0.6% to 6,362.

U.S. markets will be closed Thursday and open for half the day on Friday.

In Asia, Japan’s benchmark Nikkei 225 gained 0.9% to finish at 26,537.31, the highest level for the index since the collapse of the Japanese “bubble economy” nearly three decades ago.

Australia’s S&P/ASX 200 slipped 0.7% to 6,636.40, but South Korea’s Kospi edged up 0.9% to 2,625.91. Hong Kong’s Hang Seng rose 0.6% to 26,819.45, while the Shanghai Composite was up 0.2% at 3,369.73.

Cases of COVID-19 continue to soar around the world, and deaths related to the sickness are growing, hitting more than 1.4 million people cumulatively worldwide. Worries are growing about it spreading during the Thanksgiving holiday in the U.S.