Asia-Pacific markets delivered a mixed performance on Christmas Eve, as investors weighed Wall Street’s overnight gains driven by technology stocks.
Japan’s Nikkei 225 slipped 0.32% to close at 39,036.85, with minutes from the Bank of Japan’s October meeting indicating members’ willingness to raise rates if economic and inflation conditions justify the move.
However, Japanese automakers saw notable gains—Honda surged 12.69%, and Nissan rose over 5%.
The two companies announced they have begun formal discussions about a potential merger, which could pave the way for the creation of the world’s third-largest automaker by sales.
Discussions are expected to conclude by June 2025.
South Korea’s Kospi edged down 0.06% to 2,440.52, while the Kosdaq added 0.13% to close at 680.11.
Meanwhile, consumer sentiment in the country dropped to its lowest point in over two years.
The consumer sentiment index fell sharply to 88.4 in December, sliding below the 100-point benchmark that separates optimism from pessimism, according to the Bank of Korea.
China’s Hang Seng Index gained 1.08% to close at 20,098.29, while the CSI 300 added 1.27%, closing at 3,983.69.
In Australia, the S&P/ASX 200 rose 0.24% to 8,220.9, reflecting modest optimism during a shortened trading session.
On Wall Street, tech stocks gave the broader market a lift. The S&P 500 climbed 0.73% to 5,974.07, while the Nasdaq Composite advanced 0.98% to 19,764.89, bolstered by gains in Tesla, Meta, and Nvidia.
The Dow Jones Industrial Average reversed earlier losses, finishing 66.69 points higher at 42,906.95.
Business activity was muted as trading volumes thinned ahead of the holidays. U.S. markets are set to close early on Tuesday and remain closed on Christmas Day, with expectations for a quiet week as investors digest the year’s final economic data.
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