Asian Markets Largely Closed Lower Amid Thin Trading
Go Wire
December 31, 2024
GoGPT Summarizes Articles
On Tuesday (Dec. 31), most Asian markets ended 2024 with losses as end-of-year caution took hold. The investors lowered expectations for US rate cuts and the upcoming Trump administration. The dollar remained strong against most currencies, increasing pressure on Asian markets.
Additionally, Japan and South Korea closed markets for the New Year holidays, contributing to soft trading volumes in Asia.
In China, markets closed on a mixed note with the CSI 300 index down 1.60%, the Shanghai Composite Index down 1.63%, and Hong Kong's Hang Seng Index up 0.09%. Data showed that China's manufacturing activity grew at a slower rate for the third month in a row in December. This indicated that Beijing's stimulus efforts did support the economy.
Elsewhere, Australia's S&P/ASX 200 closed down 0.92%. Singapore's Straits Times index closed down 0.21%. As of 4: 26 p.m. Singapore time, FTSE Bursa Malaysia KLCI rises 0.20%.
Although the markets closed today, Japan's Nikkei 225 index surged 19% for 2024. South Korea’s KOSPI, slid 10% for 2024, being the worst-performing market in Asia because of political instability.
Happy New Year!
#How Are Asian Markets Performing Today?