Global Markets:
- Asian Stock Markets : Nikkei up 1.33%, Shanghai Composite up 0.1%, Hang Seng up 0.78% ASX up 1.67%
- Commodities : Gold at $2643.35 (-0.04%), Silver at $30.04 (0.8%), Brent Oil at $72.89 (0.56%), WTI Oil at $69.84 (0.55%)
- Rates : US 10-year yield at 4.530, UK 10-year yield at 4.508, Germany 10-year yield at 2.2865
News & Data:
- (CAD) GDP m/m 0.3% vs 0.2% expected
Markets Update:
Asia-Pacific markets showed mixed performance on Christmas Eve following gains in U.S. tech stocks overnight.
Japan’s Nikkei 225 slipped 0.32% as minutes from the Bank of Japan’s October meeting revealed members’ commitment to rate hikes if economic and inflation conditions aligned. Meanwhile, Honda shares surged 15%, and Nissan dropped over 5% after the automakers announced plans to merge, aiming to form the world’s third-largest car manufacturer by sales. The discussions are expected to conclude in June 2025.
South Korea’s Kospi fell 0.26%, while the Kosdaq edged up 0.16%. The country’s consumer sentiment index dropped to 88.4 in December, its lowest in over two years, signaling growing pessimism according to the Bank of Korea.
Hong Kong’s Hang Seng index rose 0.42% at the open, while China’s CSI 300 increased by 0.10%. Australia’s S&P/ASX 200 climbed 0.35% during a shortened trading session.
In the U.S., the S&P 500 gained 0.73%, closing at 5,974.07. The Nasdaq Composite rose 0.98% to 19,764.89, driven by notable gains in Tesla, Meta Platforms, and Nvidia. The Dow Jones Industrial Average added 66.69 points, closing 0.16% higher at 42,906.95.
Trading volumes remained light, with muted activity expected through the week. The New York Stock Exchange will close early at 1 p.m. ET on Christmas Eve and remain shut on Christmas Day.
Upcoming Events:
- 03:00 PM GMT – USD Richmond Manufacturing Index
