BANGKOK – On Thursday, Asian stock markets showed varied performance during a session marked by light trading due to the Christmas holiday, which kept many global markets closed.

In Japan’s capital, the Nikkei 225 witnessed a minor dip, slipping by less than 0.1% to close at 50,317.43. Despite this slight decline, the index has seen an impressive rise of nearly 30% over the course of the year.

The currency market saw the dollar decrease slightly against the yen, moving from 155.94 to 155.70 yen. Meanwhile, the euro remained stable at $1.1780.

China’s stock markets experienced gains, with the Shanghai Composite index increasing by 0.3%. However, Hong Kong’s market remained closed for the holiday.

Investor sentiment was bolstered by a recent announcement from the People’s Bank of China, which assured sufficient monetary supply to meet financing needs and support economic growth and inflation targets. Earlier this week, the central bank decided to maintain its primary short-term lending rates.

Conversely, stock markets in Thailand and Indonesia saw a downturn.

On Wednesday, the S&P 500 index rose 0.3% to 6,932.05 and the Dow Jones Industrial Average added 0.6% to close at 48,731.16. The Nasdaq composite added 0.2% to 23,613.31

Trading was extremely light as markets closed early for Christmas Eve and will be closed for Christmas on Thursday. Roughly 1.8 billion shares traded on the New York Stock Exchange on Wednesday, which is roughly a third of the average trading day.

U.S. markets will reopen for a full day of trading on Friday, though volumes will likely remain light this week with most investors having closed out their positions for the year.

The S&P 500 is up more than 17% this year, as investors have embraced the deregulatory policies of the Trump administration and been optimistic about the future of artificial intelligence in helping boost profits for not only technology companies but also for Corporate America.

Much of the focus for investors for the next few weeks will be on where the U.S. economy is heading and where the Federal Reserve will move interest rates. Investors are betting the Fed will hold steady on interest rates at its January meeting.

The U.S. economy grew at a surprisingly strong 4.3% annual rate in the third quarter, the most rapid expansion in two years, driven by consumers who continue to spend despite strong inflation. There have also been recent reports showing shaky confidence among consumers worried about high prices. The labor market has been slowing and retail sales have weakened.

The number of Americans applying for unemployment benefits fell last week and remain at historically healthy levels despite some signs that the labor market is weakening.

U.S. applications for jobless claims for the week ending Dec. 20 fell by 10,000 to 214,000 from the previous week’s 224,000, the Labor Department reported Wednesday. That’s below the 232,000 new applications forecast of analysts surveyed by the data firm FactSet.

Dynavax Technologies soared 38.2% after Sanofi said it was acquiring the California-based vaccine maker in a deal worth $2.2 billion. The French drugmaker will add Dynavax’s hepatitis B vaccines to its portfolio, as well as a shingles vaccine that is still in development.

Novo Nordisk’s shares rose 1.8% after the weight-loss drug company got approval from U.S. regulators for a pill version of its blockbuster drug Wegovy. However, Novo Nordisk shares are still down almost 40% this year as the company has faced increased competition for weight-loss medications, particularly from Eli Lilly. Shares of Eli Lilly are up 40% this year.

U.S. crude oil closed at $58.35 a barrel and Brent crude finished at $61.80 a barrel.