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Asia stocks fall despite China GDP beat; bond yields drop with Fed in focus-Jan 17 2025

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Key developments to markets on Friday:

– China ‘data dump’ (December)

– China GDP (Q4, full-year 2024)

– New Zealand manufacturing PMI (December)

Index Last Change % Change
trading lower

43,153.13 -68.42 0.16%Negative
trading lower

19,338.29 -172.94 0.89%Negative
trading lower

5,937.34 -12.57 0.21%Negative
Index Last Change % Change
trading lower

38,193.05 -379.55 0.98%Negative
trading lower

19,494.24 -28.65 0.15%Negative
trading higher

77,042.82 +318.74 0.42%Positive

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

Fixed Income

U.S. 10-year Treasury yields at 4.6125% in the latest session, after sliding to the lowest since Jan. 6 at 4.5880% on Thursday

Equities

Morgan Stanley advanced 4.03% after the lender said earnings increased in the fourth quarter, propelled by a wave of dealmaking, while Bank of America (BAC.N) shares declined 0.98%.

China’s CSI 300 up 0.3% as of 0207 GMT, Hang Seng added 0.14%.

Nikkei slumped 1.1%. MSCI’s world index (.MIWD00000PUS), down 0.05%.

Forex

JPY fresh one-month high of 154.98 on Friday, with USD sagging on the prospect of earlier Fed cuts.
DXY down 0.06% to 108.90.
EUR at $1.0308, GBP flat at $1.2237.
Declines in bond yields supported alternative assets.
Bitcoin edged as high as $101,769.43 for the first time since Jan. 7.

Commodities

Brent rose 13 cents, or 0.2%, to $81.42 per barrel, after declining 0.9% in the previous session.
U.S. crude up 27 cents, or 0.3%, to $78.95 a barrel, following a 1.7% drop.

 

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