Asian stock markets trading higher on positive cues from Wall Street, optimism about interest rate cuts.

From Nasdaq.: 2024-12-22 22:28:19

Asian stock markets are trading higher on Monday, following positive cues from Wall Street. Traders are optimistic about interest rate cuts after slower US consumer price inflation data. US government shutdown averted. Australian stock market up, with S&P/ASX 200 Index gaining 1.40%. Tech, mining, and financial stocks leading gains. Aussie dollar trading at $0.626. Japanese stock market up, Nikkei 225 Index up 0.88%. SoftBank Group and Fast Retailing gaining. Automakers Honda and Toyota up. Tokyo Electron, Advantest, and Screen Holdings in the tech space. Sumitomo Mitsui Financial and Mitsubishi UFJ Financial gaining in banking sector. Major exporters Panasonic, Mitsubishi Electric, Canon, and Sony up. No major losers in the market. In currency market, US dollar trading at lower 156 yen-range. Other Asian markets also up, with Taiwan leading at 2.7%.

On Wall Street, Dow surged 1.2%, Nasdaq jumped 1.0%, and S&P 500 shot up 1.1%. European stocks ended modestly lower. Crude oil prices settled higher on Friday. West Texas Intermediate Crude oil futures at $69.46 a barrel. Oil futures shed 2.5% in the week.



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