Arizona Tribune - Asia stocks begin year on cautious note

NYSE - LSE

CMSC	-0.53%	20.81	$
RELX	-3.21%	35.51	$
CMSD	-0.34%	20.69	$
BTI	-1.12%	55.35	$
AZN	-1.27%	162.7	$
RIO	0.42%	103.27	$
RBGPF	0%	70	$
BCE	-0.59%	23.67	$
NGG	-0.06%	78.12	$
GSK	-1.96%	49.89	$
JRI	-0.58%	12.14	$
BCC	2.64%	79.21	$
RYCEF	0.7%	19.92	$
BP	0.52%	43.81	$
VOD	1.89%	16.9	$

Asia stocks begin year on cautious note / Photo: SPENCER PLATT - GETTY IMAGES NORTH AMERICA/AFP

Asia stocks begin year on cautious note

ECONOMY 02.01.2025

Asian stocks began 2025 mostly in the red on Thursday after worries about US interest rates, tariffs and China's economy gave Wall Street the holiday blues for a fourth straight session.

Text size:

Equities mostly had a bumper 2024 on the back of enthusiasm about artificial intelligence (AI), cuts in borrowing costs by central banks and Donald Trump's presidential election win.

The Dow ended the year up by around 13 percent, while the S&P 500 and the Nasdaq, which have more tech stocks, climbed over 23 percent and around 29 percent respectively.

Germany's DAX added almost 20 percent, as did Japan's Nikkei. The FTSE 100 gained nearly six percent, and France's CAC 40 was the outlier, falling 2.2 percent.

Bitcoin exploded more than 120 percent to break $100,000 while fellow cryptocurrency Ethereum rose over 40 percent. Gold, coffee and cocoa set new records.

"It was an exceptional year," said Christopher Dembik, senior investment adviser at Pictet Asset Management.

But ahead of the New Year's Day holiday, US stocks sank Tuesday, although European equities advanced.

The Dow Jones lost 0.1 percent, the S&P 500 declined 0.4 percent and the Nasdaq gave up 0.9 percent.

On Thursday, shares in Hong Kong and China fell. Tokyo remains closed until Monday.

Shares in Australia and South Korea edged up, helped by US equity futures pointing higher.

Political uncertainty continued to grip South Korea, with impeached President Yoon Suk Yeol resisting arrest for a third day.

"The Republic of Korea is currently in danger due to internal and external forces threatening its sovereignty, and the activities of anti-state elements," Yoon said in a statement.

In Japan, Nippon Steel was not available for comment after it reportedly sent new proposals to the White House to try to save its takeover of US Steel.

US Steel shares soared as much as 14 percent on Tuesday in New York after the reports in the Washington Post and elsewhere.

- Key figures around 0300 GMT -

Tokyo - Nikkei 225: closed

Hong Kong - Hang Seng Index: DOWN 1.76 percent at 19,707.60

Shanghai - Composite: DOWN 0.78 PERCENT at 3,325.66

Euro/dollar: UP at $1.0370 from $1.0360 on Tuesday

Pound/dollar: UP at $1.2531 from $1.2520

Dollar/yen: DOWN at 157.27 yen from 157.32 yen

Euro/pound: UP at 82.75 pence from 82.74 pence

West Texas Intermediate: UP 0.5 percent at $72.08 per barrel

Brent North Sea Crude: UP 0.5 percent at $74.98 per barrel

burs-stu/cwl

R.Lee--AT

Arizona Tribune - Asia stocks begin year on cautious note

Asia stocks begin year on cautious note

Featured

Far-right AfD claims crushing victory in east German state vote

Vandals uproot Berlin tree commemorating Pride attack victims

Indonesia's main airport suspends operations after volcanic eruption

Indian Oscar-nominated filmmaker turns camera on his cancer