Asian markets gained on Friday after US stock indexes slipped, with investors awaiting the start of Donald Trump’s presidency this month. The Hang Seng index in Hong Kong rose 1%, while China placed 28 US entities on its export control list to “safeguard national security and interests.” Japan’s market is closed for the New Year holiday.
US futures and oil prices rose, but the dollar remained steady against the Japanese yen. South Korea’s Kospi jumped 1.9% as investigators arrived at President Yoon Suk Yeol’s residence with a warrant to detain him amid a political crisis. Australia’s S&P/ASX 200 climbed 0.6%.
The US stock market ended the year on a weak note, with the S&P 500 falling 0.2%. Tesla’s stock slumped 6.1% after disclosing lower-than-expected vehicle deliveries in 2024. However, some tech stocks like Nvidia rose, with its chip business continuing to drive growth.
Investors are watching for signs of inflation and interest rate cuts in 2025, which could impact the market. The Federal Reserve has signaled fewer expected cuts to interest rates due to rising inflation and Trump’s policies. Oil prices rose, with benchmark US crude up 26 cents to $73.39 a barrel.
Source: https://thehill.com/homenews/ap/ap-business/ap-stock-market-today-asian-stocks-gain-after-wall-street-opens-2025-with-modest-losses