Featured Author, Invest 101

Asia shares rise, dollar underpinned by elevated bond yields – Dec 24

Posted on

December 24, 2024

by

moneysmart-girl

Summary

Fed outlook main theme for investors
Honda shares surge on Nissan merger plans
Dollar, US yields near milestone highs

Index	Last	Change	% Change
trading higher Dow Jones Industrial Average .DJI	42,906.95	+66.69	0.16%Positive
trading higher Nasdaq Composite Index .IXIC	19,764.88	+192.29	0.98%Positive
trading higher S&P 500 Index .SPX	5,974.07	+43.22	0.73%

Index	Last	Change	% Change
trading lower Nikkei Index .N225	39,055.35	-105.99	0.27%Negative
trading higher Hang Seng Index .HSI	20,130.35	+247.22	1.24%Positive
unchanged S&P BSE SENSEX Index .BSESN	78,540.17	—	—

Source: LSEG, opens new tab – data delayed by at least 15 minutes

Fixed Income

Markets expect 35 bps of easing for 2025 sent U.S. Treasury yields surging.

2-year Treasury yield last at 4.3345%.

10-year yield steadied near 7-month high at 4.5825%.

After recent run of central bank decisions, this week is quieter, with Japan’s October meeting minutes and Australia’s December minutes released on Tuesday morning.

Equities

MSCI’s broadest of APAC ex-Japan (.MIAPJ0000PUS) rose 0.35% early Tuesday, tracking Wall Street’s overnight gain.

Nikkei fell 0.37%, while Topix down 0.03%.

Honda’s (7267.T) price surged nearly 17%, Nissan’s (7201.T) eased 0.07%.

China’s CSI300 rose 0.5%, Hang Seng jumped 0.7%. Investors remain cautious on China’s stuttering recovery despite Chinese leaders pledging more support.

Forex

DXY near 2-year high at 108.11, having climbed more than 2% MTD.

EUR eased 0.04% to $1.0401, JPY near 5-month low at 157.11.

Commodities

Strong dollar combined with high bond yields to weigh on gold, which stood at $2,615.59 after slipping 1% last week.

Oil edged higher, Brent rising 0.37% to $72.90, while U.S. crude gained 0.35% to $69.48.

For more news visit Reuters.com

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