📈 Asian Markets
Asian stocks showed mixed performances:
🇰🇷 South Korea: The KOSPI surged nearly 2% following new investment policies.
🇨🇳 China: The CSI 300 remained flat, while 🇭🇰 Hong Kong's Hang Seng rose 1% on stimulus hopes.
🇯🇵 Japan: Markets remained closed for holidays.
📰 South Korea's Political Crisis
The crisis deepened as authorities entered President Yoon’s compound to execute an arrest warrant after his impeachment. The government introduced measures to boost foreign investment and stabilise markets amid economic challenges.
💰 China’s Fiscal Boost
Beijing announced plans to sharply increase ultra-long treasury bond funding in 2025. Special bonds will support initiatives like:
📱 Consumer subsidies for digital products
🔄 Trade-in programmes for durable goods
🇺🇸 Biden Blocks Nippon Steel Deal
U.S. President Biden decided to block Nippon Steel's proposed purchase of U.S. Steel, despite assurances of government oversight. This decision comes weeks before Trump’s inauguration, aligning with his anti-deal stance.
✈️ South Korea Extends Jet Inspections
South Korea extended inspections of 101 Boeing 737-800 jets until January 10 after the tragic Jeju Air crash that killed 179. Investigations are ongoing into a landing gear failure during the emergency landing.
💹 Chinese Yuan Weakens
The yuan hit its weakest level in 16 months as the PBOC signaled potential rate cuts in 2025. Beijing aims to shift to conventional monetary policies after prior measures failed to spur growth.
🪙 Commodities & Crypto
🪙 Gold: Up 0.2% to $2,662.94, heading for a 2% weekly gain.
⚙️ Copper: Flat at $8,815.50 after weak Chinese manufacturing data.
⛓ Bitcoin: Rose 1.2% to $96,852.
💵 Tether: Market cap fell 1.4% to $137 billion after new EU crypto regulations.
🛢 Oil Rises
🌍 Brent: +0.3% to $76.15
🇺🇸 WTI: +0.3% to $73.38
🚗 Tesla’s Record Sales in China
Tesla delivered 657,000 units in China in 2024 (+8.8%), but global sales dropped due to competition from BYD.
Stay tuned for more updates! 🌟
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