Trading will be thin with major markets in Japan and China closed, and shortened sessions elsewhere on the last day of 2018.

Futures in Australia and Hong Kong advanced as Trump said in a tweet that negotiations were “moving along very well” toward a comprehensive deal, while Chinese state media said Xi Jinping believed both sides wanted “stable progress.”

US stocks halted a two-day rally Friday as thin trading added to already-volatile markets, though the S&P 500 Index held onto its first weekly gain in a month.

Treasuries, which rose on Friday, won’t be trading because of the holiday in Japan.

Global stocks are set for the worst year since 2008 and oil is mired in its steepest quarterly slump since 2014.

Plenty of event risks loom in the coming year, from the UK vote on the Brexit deal to US-China trade talks to the continuing showdown between President Trump and Congress over the budget.

The US political landscape is also unsettling investors following departures of senior officials and surfacing tensions at the White House over the Federal Reserve.