Markets in December: 'Bizarre' stock moves leave traders scratching heads

Since 1945, December has produced the highest average gains of any month, but this month is set to be the worst of the year

As a turbulent December in equity markets draws to a close, there’s one thing traders and investors can agree on: these are not usual times, especially for this time of year.

It’s “completely bizarre,” says Stephen Innes, head of trading for Asia Pacific at Oanda Corp. “It’s incredible just how harmful markets veer when sentiment slides.”

Innes has been taking profit on some winning investments, and snapping up blue-chip stocks whose valuations have dropped in the December sell-off, but for the most part he’s keeping his money on the sidelines. Like many other traders in Asia, he’s been watching events play out