Global Markets:
- Asian Stock Markets : Nikkei down 1.46%, Shanghai Composite down 0.75%, Hang Seng down 0.60% ASX up 0.08%
- Commodities : Gold at $2646.35 (-0.36%), Silver at $29.94 (-0.28%), Brent Oil at $76.19 (0.36%), WTI Oil at $73.66 (-0.45%)
- Rates : US 10-year yield at 4.619, UK 10-year yield at 4.5915, Germany 10-year yield at 2.4245
News & Data:
- (USD) ISM Manufacturing PMI 49.3 vs 48.2 expected
Markets Update:
Asia-Pacific markets displayed mixed trends on Monday as investors analyzed business activity data from major economies in the region.
China’s Caixin services PMI, reported by S&P Global, rose to 52.2 in December, marking the fastest expansion in the sector since May 2024. Meanwhile, the People’s Bank of China announced plans for a “moderately loose” monetary policy in 2025 to stimulate growth. In contrast, Hong Kong’s PMI fell in December, while India’s PMI data is set for release later today.
Hong Kong’s Hang Seng index initially climbed after the PMI release but later dipped 0.27%, and mainland China’s CSI 300 also recorded minor losses. Japan’s Nikkei 225 led regional declines, shedding 1.62% due to a drop in consumer cyclical stocks, while the broader Topix fell 1.23%.
In South Korea, the Kospi rose 1.67%, and the smaller Kosdaq gained 1.49%, despite ongoing political turmoil. The head of South Korea’s presidential security service stated over the weekend that he could not comply with efforts to arrest impeached President Yoon Suk Yeol, following an unsuccessful arrest bid last Friday.
Australia’s S&P/ASX 200 edged above the flatline after trimming early gains.
In the U.S. market on Friday, the Nasdaq Composite and S&P 500 ended a five-day losing streak driven by tech stock rallies. The S&P 500 rose 1.26%, the Nasdaq gained 1.77%, closing at 19,621.68, and the Dow Jones added 0.8%.
Upcoming Events:
- 03:00 PM GMT – USD Factory orders m/m
- 02:45 PM GMT – USD Final Services PMI
