Asian markets began the holiday weekend on a positive note, driven by gains from US stocks overnight. The Nikkei 225 slipped 0.32% as minutes from the Bank of Japan’s October meeting showed that members would stick to raising interest rates if economic conditions were met. However, Honda surged 12.69% and Nissan rose over 5%, with the two automakers announcing plans to merge in June 2025.
The merger talks come as South Korea’s consumer confidence reached its lowest level in over two years, according to a Bank of Korea survey. The Kospi index fell 0.06% while the Kosdaq gained 0.13%. Hong Kong’s Hang Seng rose 1.08%, and mainland China’s CSI 300 added 1.27%.
US stocks saw gains overnight, led by tech stocks like Tesla and Meta Platforms, which both jumped over 2%. The Nasdaq Composite rose 0.98% to a new high. Australia’s ASX 200 closed 0.24% higher in a shortened trading day due to the Christmas holiday.
Trading is expected to remain thin throughout the week, with the US stock market closing early on Tuesday and remaining shut on Christmas Day.
Source: https://www.cnbc.com/2024/12/24/asia-stock-markets-live-updates.html