Asian Markets Waver as China’s Industrial Slump Deepens: What’s Next?

• China’s Industrial Profits Decline: Industrial profits in China dropped over 7% in November, marking the fourth consecutive month of declines, and fell nearly 5% year-on-year for January-November.
• Japan’s Nikkei Climbs: The Nikkei 225 rose 1.8% to 40,285.25, supported by a weak yen and delayed interest rate hikes amid economic concerns.
• South Korea’s Political Turmoil: The Kospi fell 0.8% as South Korea faces political instability with the opposition party moving to impeach the acting leader.
• Hong Kong and Shanghai Diverge: The Hang Seng edged down 0.1%, while the Shanghai Composite gained 0.5%, reflecting mixed sentiment across the region.
• US Markets Hold Steady: The S&P 500 and Nasdaq recorded slight losses, while the Dow gained 0.1%, with trading volumes thin post-Christmas.
• Tech Sector Mixed: Nvidia slipped 0.2%, while Broadcom gained 2.4%. Tesla dropped 1.8%, and Amazon fell 0.9%.
• Retail and Healthcare Shine: Target, Ross Stores, and Dollar Tree saw gains, while Walgreens surged 5.3%, leading healthcare stocks higher.
• Oil and Currency Movements: US crude traded at $69.58 per barrel, and Brent crude at $72.78, while the dollar strengthened against the euro and yen.