#美联储回购协议计划 The Christmas holiday is here, and the global trading markets are collectively hitting the pause button.

On December 24th, from Asia-Pacific to Europe and the Americas, major exchanges around the world are preparing for Christmas—early closing and staggered holidays have become the main themes today.

The Hong Kong stock market acted the fastest. It closed early in the afternoon, and the following two days are completely off, with no trading at all. The US stock market also didn't stay idle, with the closing time moved up to 2:00 AM Beijing time on the 25th, and it will be closed all day on the 25th. Europe has its own arrangements: Germany and Italy are directly in holiday mode today; France, the UK, and Spain are closing early today and then taking two days off.

With the stock markets closed, the futures markets also need to keep up. At CME, futures contracts for precious metals, energy, and forex all end trading before 02:45 on the 25th, with stock index futures stopping even earlier at 02:15. Intercontinental Exchange (ICE) Brent crude oil futures will close at 3:00 AM on the 25th.

In short, the global financial markets seem to have coordinated their holiday schedules, giving traders time off through staggered vacations. This holiday break also slows down the trading rhythm—markets will be relatively calm in the short term, but attention should be paid to the rebound momentum after the holiday ends.