Most Asian Markets Closed Higher Amid Tech Gains
Go Wire
December 24, 2024
GoGPT Summarizes Articles
Asian markets mostly advanced on Tuesday (Dec. 24), buoyed by gains in technology shares mirroring Wall Street's rally. The regional investors received positive signals from Wall Street’s overnight tech recovery. However, Asian markets posted losses after the Fed said to slow down rate cuts.
Japan’s Nikkei 225 dropped 0.32%, despite auto industry leader Honda (TYO: 7267)'s surge of 12.22% after confirming merger talks with Nissan (TYO: 7201) and announcing a $7 billion share buyback.
China's markets all outperformed with the mainland's Shanghai Composite index adding 1.26% and Hong Kong’s Hang Seng index rallying 1.08%. Market sentiment improved on hopes for Beijing’s fiscal stimulus to spur economic growth in 2025. Investors now await purchasing managers index data for further insights into China’s economic trajectory.
Australia’s ASX 200 rose 0.24%, supported by dovish signals in the Reserve Bank’s December meeting minutes.
South Korea’s KOSPI slipped 0.061%, as political uncertainties offset tech sector gains.
As of press time, Singapore’s Straits Times Index closed up 0.46%. FTSE Bursa Malaysia KLCI rises 0.39%.
#How Are Asian Markets Performing Today?#AsianMarket