Asia-Pacific markets experienced mixed trading on January 23, 2025, as investors analyzed various economic data. China’s stock market showed resilience, with the CSI 300 index rising by 1.01% following a call from financial regulators for state-owned funds to increase their share purchases to support the market.
- Seoul's aerial view at sunset.
- Mixed trading in Asia-Pacific markets.
- China's stocks led gains amid support.
- South Korea's economy growth slows to 1.2%.
- U.S. markets hit new all-time highs.
- Technology shares drive Nasdaq's performance.
In detail, Hong Kong’s Hang Seng index saw a slight increase of 0.24%, while Australia‘s S&P/ASX 200 fell by 0.72%. Japan’s markets performed well, with the Nikkei 225 up 0.84% and the Topix gaining 0.6%. Conversely, South Korea’s Kospi and Kosdaq indices dropped by 0.78% and 0.76%, respectively, reflecting concerns over the country’s economic growth, which expanded by only 1.2% year-on-year in the fourth quarter of 2024, the slowest growth since mid-2023.
Investors are also looking forward to Singapore’s upcoming inflation report for December and the Bank of Japan’s policy meeting. BOJ Governor Kazuo Ueda has indicated a potential interest rate hike, which could impact market dynamics. In the U.S., the S&P 500 climbed 0.61% to close at 6,086.37, just shy of its all-time closing high, driven by strong performances in technology stocks such as Oracle and Nvidia.
Furthermore, the Nasdaq Composite surged 1.28% to reach 20,009.34, showcasing the strong performance of tech shares. The Dow Jones Industrial Average also rose by 130.92 points, or 0.3%, closing at 44,156.73, with Procter & Gamble contributing to the gains following a positive earnings report. These developments reflect a broader trend of optimism in the markets, particularly in technology sectors.
Overall, the mixed performance across Asia-Pacific markets highlights varying investor sentiment influenced by economic indicators and regulatory actions. The strong showing in the U.S. markets, particularly in technology, suggests a potential ripple effect that could impact global markets, including those in Canada.
