The daily reports for important events that affects the forex, stocks and commodities markets.

24/12/2024 Daily Reports

Tech Surge Fuels Asian Stocks Rally Amid Pre-Holiday Trading

Asian Markets Rise: Stocks in Asia climbed in thin trading, led by gains in the tech sector after US technology giants lifted Wall Street benchmarks on Monday.
Standout Performers: Mainland China and Hong Kong markets outperformed, while Japan showed mixed results. Taiwan Semiconductor Manufacturing Co. hit a record high, and Honda Motor surged 14% on a major share buyback announcement.
Tech-Led Momentum: The 2024 market rally is heavily concentrated in technology, with expectations for broader earnings growth in 2025, according to analysts.
Political and Economic Headwinds: Concerns over higher tariffs under US President-elect Donald Trump and a stronger dollar have weighed on Asian sentiment.
Currency Watch: The Japanese yen fluctuated amid warnings about excessive forex moves, while the Bank of Japan governor’s upcoming speech is expected to address monetary policy.
Oil and Gold Gains: Crude oil edged higher following a recent selloff, and gold rose 0.3% amid a strengthening dollar.
Cryptocurrencies: Bitcoin remained stable at $93,757, while Ether dipped 1% to $3,385.

Markets are poised for a quiet holiday week, with key events like US jobless claims and Japan’s Tokyo CPI on the horizon.

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