Asian Markets Mostly Gained on Prospects for Sustained Fed Rate Cuts
Go Wire
December 23, 2024
GoGPT Summarizes Articles
Asian markets mostly gained on Monday (Dec. 23), buoyed by optimism about the continued decline in US interest rates and corporate developments. Regional sentiment turned positive as the U.S. Personal Consumption Expenditures (PCE) index for November was lower than expected. This raised bets that the Fed would accelerate rate cuts.
Japan's Nikkei 225 jumped up 1.19%. Investors were energized by reports of a potential merger between Honda $HMC (TYO: 7267) and Nissan (TYO: 7201), which could bring about the world’s third-largest automaker by sales. Furthermore, Japan’s market focus also included stronger-than-expected inflation data for November, maintaining anticipations of Bank of Japan rate hike.
South Korea’s KOSPI gained 1.57% as investors bought undervalued stocks following recent political uncertainties.
In China, the markets were mixed. The Shanghai Composite Index fell 0.5% but the Hang Seng Index added 0.82%. The gain was supported by Beijing’s commitments to expanding fiscal spending in 2025 to boost economic growth.
Australia’s ASX 200 advanced 1.67%, driven by $NWSA News Corp's announcement to sell its Foxtel business to DAZN Group in a $2.1 billion deal.
As of press time, Singapore’s Straits Times Index rises 0.96%, with Talkmed Group (SGX: TALK) leading the gain on a privatization offer. Malaysia's FTSE Bursa Malaysia KLCI rises 0.21%.
#How Are Asian Markets Performing Today?#$News Corporation Class A Common Stock(NWSA)#$Honda Motor Co. Ltd. American Depositary Share each representing three (3) shares of Common Stock(HMC)