HONG KONG: Asian markets struggled to build on their recent rally as investors cashed in while also looking ahead to key central bank meetings that could provide an idea about monetary policy in the new year. However, dealers were unable to build on the gains Tuesday, with analysts also pointing to thinning volumes towards the end of the year. “It’s been a few good days on Asia’s stock markets as last week’s swoon gave way to renewed confidence,” said Greg McKenna, chief market strategist at AxiTrader. The spot price for Bitcoin quoted by Bloomberg News – which is lower than the Cboe – was up just 0.3 percent at $16,16.760. The closure provided some much-needed support to the commodity as traders grow concerned that a Russia-OPEC output cap could be reviewed next year.

Source: New Strait Times December 12, 2017 03:45 UTC