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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

 42,906.95 +66.69 0.16%Positive
trading higher

 19,764.88 +192.29 0.98%Positive
trading higher

 5,974.07 +43.22 0.73%
Index Last Change % Change
trading lower

 39,055.35 -105.99 0.27%Negative
trading higher

 20,130.35 +247.22 1.24%Positive
unchanged

 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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