Asia markets edge higher amid holiday-thinned trade; gold and silver hit fresh highs

📅 Last updated: December 27, 2025

In a trading session characterized by a distinct lack of volume and regional participation, major Asian equity indices managed to eke out modest gains on Wednesday. The subdued activity was largely due to market closures in Australia and Hong Kong for public holidays, creating a vacuum that left broader trends struggling for clear direction.

Market Performance Overview

• Japan’s Nikkei 225: Led the advance, closing up 0.6% as exporters benefited from a slightly weaker yen.
• South Korea’s Kospi: Rose 0.4%, buoyed by gains in semiconductor giants.
• Mainland China’s CSI 300: Inched up 0.2% in a muted session as investors awaited key economic data.

The Quiet Catalyst: Holiday-Thinned Trade

The closures in Sydney and Hong Kong fundamentally altered the day’s market dynamics. Hong Kong’s absence left a significant gap in regional liquidity for China investment, while Australia’s removal took a key commodity market offline.

With two major players offline, the market lacked the momentum for a decisive breakout in either direction, leading to a grind higher on light volumes—a move many analysts view with caution until fuller participation resumes.

The Safe-Haven Surge: Precious Metals Steal the Spotlight

While equities nudged forward, the day’s most compelling narrative unfolded in the commodities space. Gold and silver prices blasted to fresh all-time highs. Spot gold surged past $2,300 per ounce, while silver broke above $27 an ounce.

This simultaneous rally points to a complex driver set. Analysts attribute the blistering rally to several factors, including persistent geopolitical tensions, central bank buying, and underlying concerns about currency debasement.

Key Takeaways

• Asian markets posted modest gains in a low-volume session due to holidays in Australia and Hong Kong.
• Thinned liquidity led to listless consolidation, muting potential volatility and casting doubt on the conviction behind the moves.
• Precious metals dramatically outperformed equities, with gold and silver hitting fresh record highs, signaling strong safe-haven demand.
• The divergence between steadying equities and soaring metals suggests investors are hedging against multiple macroeconomic risks.