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TOP CRYPTO MARKET CAP $0.00T
24H VOLUME $0.00B
BTC DOMINANCE 0.0%
ETH DOMINANCE 0.0%
TOP SECTOR EUR STABLECOIN (0%)
TOP CRYPTO MARKET CAP $0.00T
24H VOLUME $0.00B

Most Asian stocks rise amid thin holiday trading: markets wrap

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Asian stocks edged higher on Tuesday as holiday trading volumes remained subdued. Japan’s Nikkei 225 gained 0.5%, supported by gains in export-driven sectors, while Hong Kong’s Hang Seng Index rose modestly by 0.3%, driven by a rebound in technology shares. Investors appeared cautious ahead of economic data releases later this week, adding to the restrained activity.

Mainland China’s Shanghai Composite saw limited movement, inching up 0.1%, as concerns over the country’s slowing economic growth persisted. Meanwhile, South Korea’s Kospi Index slid 0.2%, reflecting investor unease over global geopolitical uncertainties. Analysts pointed out that market momentum remains tepid due to lingering fears of monetary policy tightening by central banks.

Steady Growth in Bloomberg’s ‘Magnificent Seven’ Index Throughout 2024 (Source: Bloomberg)

In currency markets, the yen strengthened slightly against the dollar, trading at around 149.85 per dollar, as traders monitored shifts in Japanese fiscal policy. The offshore yuan remained stable, reflecting modest intervention efforts from Beijing to support the currency amid ongoing concerns over capital outflows.

Market participants expect volatility to remain low through the week as investors hold off on making significant moves before year-end. As global markets prepare for a wave of economic data releases and corporate earnings, analysts suggest that market sentiment will largely hinge on signals of policy adjustments by major central banks.

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