Asia-Pacific Markets Open Higher as Wall Street Extends Declines to 2025
Asia-Pacific markets opened higher Friday, breaking ranks with Wall Street peers that ended lower on the first trading session of 2025, weighed down by tech stocks.
The People’s Bank of China is reportedly planning to cut interest rates “at an appropriate time” this year, the Financial Times reported citing comments from the central bank. The country’s 7-day reverse repo rate is currently set at 1.5%.
Separately, China’s commerce ministry plans to impose export restrictions on certain technology used to make battery components and for processing critical minerals like lithium and gallium, according to a notice issued on Thursday.
Investors in Asia will continue to assess the political uncertainty in South Korea as the country’s corruption watchdog seeks to execute an arrest warrant for impeached President Yoon Suk Yeol, according to local media Yonhap News. Yoon’s short-lived martial law attempt on Dec. 3 has led to a political turmoil in the country.
South Korea’s Kospi index was up 1.41% and the small-cap Kosdaq rose 1.33%.
Australia’s S&P/ASX 200 rose 0.28% at open.
Hong Kong’s Hang Seng index futures pointed to a lower open, standing at 19,610, lower than the index’s last close of 19,623.32.
Japan markets remain closed for a holiday.
Source : CNBC
