Asian markets were little changed in light holiday trading Wednesday, with many major global markets closed for Christmas.

Japan’s Nikkei NIK, -0.20%   slipped 0.2%, while the Shanghai Composite SHCOMP, -0.03%   was about flat and the smaller-cap Shenzhen Composite 399106, +0.38%   rose 0.4%. Taiwan’s Taiex Y9999, +0.27%   was flat. Hong Kong’s Hang Seng Index, South Korea’s Kospi and Australia’s S&P/ASX 200 were closed.

Among individual stocks, Nissan 7201, -3.14%   sank in Tokyo trading after its vice chief operating officer — who had been tasked with the auto maker’s recovery from scandal — said he will step down. E-commerce company Rakuten 4755, -2.27%   also declined.

U.S. stocks closed mixed on Tuesday, with only the Nasdaq COMP, +0.08%   managing to post another record-high close. The S&P 500 SPX, -0.02%   and Dow Jones Industrial DJIA, -0.13%  finished with tiny losses.

U.S. markets will reopen Thursday, but most European markets will stay closed until Friday.

Investors have been encouraged by plans for an interim U.S.-Chinese trade deal despite having seen few details.

U.S. recession fears have faded after the Federal Reserve cut interest rates three times. The central bank appears set to keep them low for a long time.

Energy markets were closed for the holiday.

In currency markets, the dollar USDJPY, +0.35%  edged up to 109.39 yen from Tuesday’s 109.38 yen.