Asia stocks mostly stagnant ahead of key data; Japan shares drop, Nippon Steel affected by U.S. blocked takeover

From Investing.com: 2025-01-05 22:09:01

Most Asian stocks stagnated on Monday ahead of key economic data, with the Federal Reserve’s hawkish comments dampening sentiment. Japanese markets plunged, led by auto stocks amid concerns of tougher competition and weak demand in China. Nippon Steel shares dropped over 2% after Biden blocked its U.S. Steel takeover. China and Hong Kong stocks remained flat, with inflation data in focus. South Korea’s market surged as investors sought bargains after political turmoil. Taiwan’s Foxconn saw a 2% rise in shares on record revenues. Indian markets looked to open positively after recent losses.



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