Asian Stocks Gain Despite Modest Losses On Wall St
Hong Kong, South Korea and Australia ended higher, while Shanghai declined; Tesla led the decline in US after it disclosed of delivering fewer vehicles in the last three months of 2024
Asian Stocks Gain Despite Modest Losses On Wall St
Bangkok: Asian markets rose on Friday after US stock indexes slipped as Wall Street’s weak end to last year carried into 2025. US futures and oil prices rose. Japan’s market is closed for the New Year holiday.
The dollar remained steady on Friday, trading at 157.26 Japanese yen, down from 157.51 yen. In early December, it had been hovering around 150 yen. Hong Kong stocks rallied from Thursday’s slump amid worries that US President-elect Donald Trump might raise tariffs from China and other Asian countries once he takes office this month. The Hang Seng added 0.4 per cent to 19,692.80, while the Shanghai Composite index dropped 1.6 per cent to 3,211.43.
China has placed 28 US entities, including General Dynamics, on its export control list to “safeguard national security and interests,” according to a statement from the Commerce Ministry on Thursday. The ministry also announced it was adding export restrictions on specific technologies used in manufacturing battery components and processing critical minerals such as lithium and gallium.
The Kospi jumped 1.8 per cent to 2,441.92, with the giant SK Hynix Inc.
