This is CNBC’s live blog covering Asia-Pacific markets.
Sunrise scene of Seoul downtown city skyline, Aerial view of N Seoul Tower at Namsan Park in twilight sky in morning. The best viewpoint and trekking from inwangsan mountain in Seoul city, South Korea
Mongkol Chuewong | Moment | Getty Images
Asia-Pacific markets mostly rose Tuesday after a mixed session on Wall Street that saw the Dow soar and the Nasdaq slip as investors rotated out of tech stocks.
Hong Kong’s Hang Seng index was up 1.8%, while mainland China’s CSI 300 climbed 2.13%.
Japan’s markets were the only outlier, with the Nikkei 225 dipping 1.83% to close at 38,474.30. The Topix fell 1.16% to 2,682.58. Both indexes extended their four-day losing streak. Japan’s 40-year government bond yield rose to an intraday high of 2.774, its highest on record since 2007, LSEG data showed.
South Korea’s Kospi closed up 0.31% to 2,497.40 while the small-cap Kosdaq added 1.39% to end the day at 718.04.
Australia’s S&P/ASX 200 closed 0.48% higher at 8,231, breaking a three-day losing streak.
Investors will continue monitoring India’s rupee after it weakened to a record low against the U.S. dollar. India on Monday reported inflation data for December, which declined for a second straight month year on year, coming in just below expectations at 5.22% andboosting the case for prospective interest rate cuts.
Thailand will be releasing its consumer confidence index for December.
The 30-stock Dow rose 358.67 points, or 0.86%, to close at 42,297.12 as investors rotated into nontech shares such as Caterpillar, JPMorgan and UnitedHealth. Meanwhile, the tech-heavy Nasdaq dropped 0.38% to 19,088.10. The S&P 500 inched up 0.16%, ending at 5,836.22.
All three benchmarks have declines for the past two weeks, with tech shares causing most of the damage.
—CNBC’s Hakyung Kim and Brian Evans contributed to this report.
Traders work on the floor of the New York Stock Exchange on the last day of trading for the year on Dec. 31, 2024 in New York City.
Spencer Platt | Getty Images
Stock futures were little changed on Sunday as investors look toward a data-heavy week, which includes the December report on U.S. inflation and big bank earnings.
This week will give investors a clearer picture of the state of the economy following a blowout jobs report last week that sent stocks tumbling. The stronger-than-expected nonfarm payroll report raised concerns that the Federal Reserve will proceed with caution moving forward, which casts doubt on further interest rate cuts.
The 30-stock Dow and S&P 500 both ended the week 1.9% lower, while the Nasdaq Composite lost 2.3%, with all three indexes notching their second-consecutive weekly loss.
“With current inflation and inflation expectations elevated and sticky, and with bond yields having risen sharply and quickly, equity investors are starting to become more cautious,” said Katherine Nixon, chief investment officer for wealth management at Northern Trust. “In a classic ‘too much of a good thing,’ the constructive growth backdrop is leading to a higher-for-longer interest rate forecast.”
Traders currently give more than 97% odds that the central bank will leave rates unchanged at its Jan. 29 meeting, and a nearly 75% chance that the Fed holds the line again in March, according to the CME FedWatch Tool.
Data this week includes the December consumer price index on Wednesday morning. Before that, investors will parse wholesale inflation with December’s producer price index report on Tuesday. Wall Street also await commentary from Kansas City Fed President Jeffrey Schmid and New York Fed President John Williams on Tuesday.
Stock futures open little changed
Stock futures were little changed on Sunday, with Wall Street looking toward a data-heavy week as well as fresh corporate earnings.
Dow Jones Industrial Average futures ticked down 13 points, or 0.08%. S&P 500 futures fell 0.25%, while Nasdaq 100 futures slipped 0.3%.
Sunrise scene of Seoul downtown city skyline, Aerial view of N Seoul Tower at Namsan Park in twilight sky in morning. The best viewpoint and trekking from inwangsan mountain in Seoul city, South KoreaMongkol Chuewong | Moment | Getty Images
