China’s post-Covid struggles continued with below-target growth and falling home prices deepening the gloom around the world’s No2 economy
Investor mood was downbeat as the long wait for rate cuts looked set to roll on and China’s struggles continued while Trump’s possible return also promised volatility
China’s central bank sprang a surprise but it wasn’t enough to lift its markets while in stark contrast Tokyo’s benchmark soared to another three-decade high
Japan’s benchmark continued its 2024 charge reaching another 34-year peak while China’s woes weighed elsewhere
Investor focus was on US inflation data due out later in the day while in Japan a weak yen helped fuel another dramatic rally
The mood was largely downbeat across Asia’s trading floors except in Tokyo where a weak yen and US tech rally boosted sentiment
Wall Street’s technology firms pushed most of Asia’s stock indexes higher on Tuesday though Hong Kong proved immune
The world No2 economy’s inconsistent performance and a gloomy global picture dragged Asian shares into the red on Monday
Investor mood remained downbeat at the end of the year’s first week of trading with China’s stuttering recovery and fading hopes of a rates turnaround weighing
Tokyo’s share average was hit by a post-earthquake shockwave with airline and construction stocks suffering
The CSI A50 has less weighting in the financial sector and leans more toward healthcare and new energy companies
Investors are desperate for signals the US Fed is ready to backtrack on interest rates with technology stocks suffering the most