American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

Nikkei, KOSPI, ASX rally as tech surge propels Asian markets after Wall Street record highs

by admin December 3, 2024
December 3, 2024
Nikkei, KOSPI, ASX rally as tech surge propels Asian markets after Wall Street record highs

Asian stock markets rebounded sharply on Tuesday, led by gains in the tech sector after Wall Street hit record highs overnight.

However, currency markets remained volatile as traders assessed diverging monetary policies in the US and Japan.

Meanwhile, geopolitical tensions, including political uncertainty in France and escalating US-China trade friction, weighed on investor sentiment.

Japan’s Nikkei 225 surged 1.6% by 0200 GMT, bolstered by a rally in tech-heavy stocks, while South Korea’s KOSPI climbed 1.7%.

Taiwanese equities advanced 1.1%, and Australia’s benchmark index rose 0.7%, hitting an all-time high.

Conversely, Chinese markets lagged, with Hong Kong’s Hang Seng index edging lower and mainland blue-chip stocks slipping 0.3%.

Broadly, the MSCI Asia-Pacific index gained 0.7%, mirroring Wall Street’s robust performance.

The S&P 500 and Nasdaq both set new record highs on Monday, driven by gains among the “Magnificent 7” tech giants.

Meta Platforms soared nearly 19% following strong earnings, while Tesla jumped 12%.

In currency markets, the dollar added 0.2% to trade at 149.87 yen, recovering slightly from Monday’s six-week low of 149.09.

A strong US manufacturing report initially supported the greenback, but dovish comments from Federal Reserve Governor Christopher Waller renewed pressure.

Waller indicated a possible rate cut at the Fed’s upcoming December 18 meeting, aligning with market expectations that have risen to a 75% probability of a 0.25% reduction.

The yen found support from speculation that the Bank of Japan might raise interest rates by a quarter-point at its December 19 meeting.

Analysts at IG noted that if USD/JPY remains below the 151–152 resistance range, further declines toward 145.00 are possible, especially if rate hikes materialize in Japan while the Fed cuts rates.

Elsewhere, the euro slipped 0.1% to $1.0488 after falling 0.7% overnight, weighed down by political turmoil in France.

The government faces potential collapse as no-confidence motions against Prime Minister Michel Barnier gain traction.

Sterling was steady at $1.2654, reflecting relative stability amidst broader market uncertainty.

In commodities, gold traded near $2,635 per ounce, struggling to recover from its October peak of $2,790.15.

Oil prices hovered near two-week lows, with Brent crude futures easing 3 cents to $71.80 per barrel and US West Texas Intermediate crude down 5 cents at $68.06.

Adding to the tensions, the Chinese yuan fell to a 13-month low of 7.3145 against the dollar as US-China trade frictions intensified.

President-elect Donald Trump recently demanded that BRICS nations, including China, halt any plans to adopt an alternative global currency, threatening 100% tariffs as a countermeasure.

Global markets remain caught between optimism from robust equity performance and caution over monetary policy shifts and geopolitical uncertainties, leaving investors vigilant as the year-end approaches.

The post Nikkei, KOSPI, ASX rally as tech surge propels Asian markets after Wall Street record highs appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
Dollar Tree stock price analysis ahead of earnings: buy or sell?
next post
Archer Aviation stock has crashed: can ACHR shares rebound?

Related Posts

Visa stock price hits resistance ahead of earnings:...

January 24, 2025

UK drought crisis prompts calls to delete old...

August 14, 2025

Is the Delta Air Lines stock a buy...

December 12, 2024

Uber stock price forecast: is it too late...

October 13, 2024

Netflix stock price analysis: short-term retreat to $1,060...

June 15, 2025

Here’s why the GoPro stock price is soaring...

August 26, 2025

Renters’ hopes of being able to buy a...

May 9, 2024

McDonald’s to extend $5 value meal in most...

July 24, 2024

Asian markets close mixed amid Trump’s tariff threat;...

July 4, 2025

OpenAI’s ChatGPT Pro is losing money, CEO Sam...

January 6, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • FBI raid on John Bolton’s home in Washington linked to classified documents

      August 25, 2025
    • Argentine senate deals blow to Milei’s austerity agenda with university budget boost

      August 25, 2025
    • Jackson Hole Symposium: what Powell said about economic effects of Trump’s tariffs

      August 25, 2025
    • At Jackson Hole, Fed Chair Powell signals possible cuts while warning of uncertainty

      August 25, 2025
    • Trump threatens to fire Fed Governor Lisa Cook amid mortgage fraud allegations

      August 25, 2025

    Categories

    • Business (3,763)
    • Investing (2,783)
    • Latest News (2,048)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved