Asian shares struggled for direction on the last trading day of 2024, on course for their first quarterly loss this year after a weak showing on Wall Street. Equities fell in Australia and mainland China, with those in Hong Kong flat. US futures were steady, following declines for both the S&P 500 and the Nasdaq 100 overnight. A gauge of regional stocks looks poised to finish the fourth quarter in the red, snapping a four-quarter winning streak. Despite the latest weakness, it remains on track to gain for a second consecutive year. The cautious tone Tuesday partly reflects lingering concerns about the stamina of Wall Street’s rally this year that was predominantly driven by the so-called Magnificent Seven cohort of US tech giants. It’s also an indication of uncertainties facing investors in 2025, ranging from President-elect Donald Trump’s protectionist policies to the Federal Reserve’s outlook and the health of China’s economy. The Bloomberg Dollar Spot Index was steady and on course for its best year since 2015 in a rally fueled by Trump’s reelection in November and the Fed’s less dovish policy pivot. An index of US Treasuries looks set to eke out a small gain for the year. Tuesday’s trading is also thin because markets including South Korea, Indonesia, Thailand, and the Philippines are shut for a public holiday. Stock exchanges in Hong Kong and Singapore are open for half day, while Japanese markets are closed through Jan. 6. There’s also no cash trading in Treasuries in Asia. On the economic front, China’s factory activity expanded for a third straight month in December, bolstering expectations the economy will reach its annual growth target after Beijing’s stimulus blitz. In the latest sign of simmering tensions between Beijing and Washington, the US Treasury Department said it was hacked by a Chinese state-sponsored actor through a third-party software service provider. The flip side of a strong dollar has been a selloff in Asian currencies, with a Bloomberg index for the latter on track for a fourth consecutive annual loss. The yen and Korean won have registered the biggest declines in the region this year, with the former under additional pressure in recent weeks amid the country’s political turmoil. In the latest development in Korea, a local court on Tuesday issued an arrest warrant for embattled President Yoon Suk Yeol, who has been suspended from power over his short-lived martial law declaration, according to investigators. As for commodities, gold was flat and set for one of its biggest annual gains this century. Oil pushed higher on the latest sign of economic recovery in China, the world’s top crude importer. US After Hours Quiet session; ACAD +9.5% jumps on S&P SmallCap 600 inclusion; DAVE -6.8% down on FTC referring its case to DOJ
Nikkei Closed Hang Seng +0.09% CSI -0.95% Shanghai -1.00% Shenzen -1.75%
Eur$ 1.0407 CNH 7.3162 CNY 7.2983 JPY 156.21 GBP 1.2553 CHF 0.9029 RUB 110.50 TRY 35.3360 WTI$ 71.59 +0.70% Gold 2,606 BTC 92,577 ETH 3,340
S&P -0.12% Nasdaq -0.16% EuroStoxx Close FTSE -0.25% Dax Close SMI Closed
Macro :
- LNG Exports Grow at Slowest Pace Since 2015, Kpler Data Shows
- NYC Congestion Pricing Set to Start on Sunday, MTA Says: NBC
- US Natural Gas Surges 16% as Forecasters Warn of Arctic Blast
Keep an eye on :
Keep an eye on :
- ACAD US : Acadia Pharma Shares Gain on Plan to Join S&P SmallCap 600 (1)
- BA/ LN : UK government lobbied Libya for arms deal with BAE Systems
- BA US : KLM Airlines Boeing plane skids off runway in Norway after hydraulic failure forces emergency landing
- CO FP : Casino Group to Sell Property Portfolio to Icade for EU50m
- Chery IPO : Chery Is Said to Add JPMorgan for $1 Billion Hong Kong Listing (Chinese Auto Comp.)
- FNMAE US : Fannie, Freddie Shares Soar With Bill Ackman’s Trump Optimism +36%
- FMCC US : Fannie, Freddie Shares Soar With Bill Ackman’s Trump Optimism +34%
- GALP PL : Galp Says It Has Drilled and Logged Mopane-2A Well in Namibia
- ICAD FP : Casino Group to Sell Property Portfolio to Icade for EU50m
- IFX GY : Beijing Pushes to Use China-Made Chips in Its EVs - WSJ
- LHA GY : Lufthansa Fined for Using United Air Code in Prohibited Airspace
- PFE US : Pfizer Ends Sangamo Partnership for Hemophilia Therapy
- RECSI NO : REC Silicon to End Production at Site in Moses Lake, Washington
- SGMO US : Sangamo Falls After Pfizer Ends Pact -56% in After Hours
- TSLA US : Tesla’s Shanghai Megafactory Kicks Off Trial Production: Xinhua
- TSLA US : Tesla’s Shanghai Megafactory Kicks Off Trial Production: Xinhua
- SEAT US : Vivid Seats Shares Jump on Bloomberg Report It’s Exploring Sale
- TIT IM : Telecom Italia May Look to Move Up Sparkle Deal: Messaggero