Market Buzz: Markets lulled by Christmas carols

Russian markets are expected to open flat Wednesday, with investors reluctant to make significant moves during holiday week.

Russian stocks closed near opening levels Tuesday after sparse holiday trading with energy stocks outperforming. The MICEX added 0.1% and the RTS shed 0.1%. The US and European stocks remained closed for Christmas Day.Asian stocks traded higher Wednesday supported by the Chinese property sector, while the tech sector gained across the region. Japan’s Nikkei rose 0.74%, continuing its rally for the second day amid a weakened yen. South Korea’s Kospi gained 0.8% on tech shares, while the Shanghai Composite slipped 0.25% in a choppy session. Bourses in Hong Kong and Australia remained closed for holidays until Thursday.