Asian Stocks Set to Rise After Wall Street Rebound: Markets Wrap
(Bloomberg) — Asian shares were set to rise in major markets on Monday after Wall Street snapped a five-day losing streak, helped by renewed demand for big tech stocks.
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Stock futures in Australia, Hong Kong, Taiwan and Singapore all rose, while Japan fell, partly reflecting a stronger yen.The S&P 500 ended Friday up 1.3%, while the Nasdaq 100 rose 1.7%. , ending a selloff that wiped more than a trillion dollars off the U.S. stock market.
The dollar was mixed against major currencies early on Monday after the dollar index fell for the first time in eight sessions on Friday.
Australian government bond yields rose in early trade, echoing Friday’s move in Treasuries as the US 10-year yield rose four basis points.
The demand for the stock signals a renewed appetite for risk among investors after last year’s decline in trading sessions leading up to 2025. Selling pressure has now tempted some investors to return to some of the dominant themes fueling markets in 2024, including artificial intelligence.
In Asia, technology stocks will be in focus as Taiwan-listed Hon Hai Precision Industry Co., an assembly partner of Nvidia Corp. and Apple Inc., also known as Foxconn, moves in New York trading over the weekend. reported better-than-expected earnings The results suggest that demand for AI infrastructure remains robust.
A court in South Korea rejected an appeal by Yoon Suk-yeol’s lawyers against the impeached president’s arrest warrant, local media reported Sunday.
Data due in Asia on Monday includes China Caixin services and composite PMI, Thailand inflation and industrial production for Vietnam. Elsewhere, Israel’s central bank will make an interest rate decision, while data releases include German inflation, US factory orders and S&P Global services. and the composite PMI.
Fed Comments
In the US, Federal Reserve Governor Lisa Cook will speak at a conference on law and microeconomics at the University of Michigan show that the US economy remains strong, underscoring the challenge investors face in deciphering the path ahead for US interest rates after Fed Chairman Jerome Powell’s wild December U-turn.
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