Global Markets:
- Asian Stock Markets : Nikkei down 0.92%, Shanghai Composite up 0.09%, Hang Seng down 0.33% ASX down 0.32%
- Commodities : Gold at $2632.35 (-0.04%), Silver at $29.94 (0.08%), Brent Oil at $73.89 (0.06%), WTI Oil at $70.64 (0.05%)
- Rates : US 10-year yield at 4.617, UK 10-year yield at 4.626, Germany 10-year yield at 2.389
News & Data:
- (USD) Crude Oil Inventories -4.2M vs -0.7M expected
Markets Update:
Asia-Pacific markets were mixed on Monday, reflecting a range of economic and political factors. In South Korea, the Kospi rose 0.91%, and the Kosdaq gained 1.74%, despite the nation grappling with its deadliest airline crash in decades. On Sunday, a Jeju Air plane crash at Muan International Airport claimed 179 lives. Acting President Choi Sang-mok has ordered an urgent inspection of the nation’s airline systems following recovery efforts. Jeju Air shares hit an all-time low, falling 8.53%, while other airline stocks showed volatility.
South Korea also faces political turmoil, with parliament impeaching acting President Han Duck-soo after his predecessor, Yoon, was impeached for a brief martial law decree. Economic data added to the challenges, with industrial output contracting 0.7% in November, surpassing expectations of a 0.4% decline.
Japan’s Nikkei 225 dropped 0.82%, and the Topix fell 0.30%, as factory activity showed a slower contraction. The au Jibun Bank Japan Manufacturing PMI improved to 49.6 in December, signaling softer declines in production and new orders.
Australia’s S&P/ASX 200 declined 0.32%, while Hong Kong’s Hang Seng Index edged up 0.15%, and mainland China’s CSI 300 rose 0.53%. Traders anticipate China’s manufacturing PMI on Tuesday, ahead of market closures for the New Year holiday.
On Wall Street, major U.S. indexes fell Friday, led by technology stocks. The Dow dropped 0.77%, while the S&P 500 and Nasdaq Composite fell 1.11% and 1.49%, respectively, despite overall weekly gains.
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