BANGKOK (AP) – Global stock markets showed a mixed performance on Friday as trading activity slowed during the final days of 2024. European markets experienced modest movements as they reopened after the Christmas holidays, while Asian shares exhibited a mix of gains and losses.
European Markets Open Narrowly Higher
European stocks reflected cautious trading:
- Germany’s DAX rose slightly by 0.1%, closing at 19,863.29.
- France’s CAC 40 increased by 0.4%, reaching 7,308.99.
- Britain’s FTSE 100 slipped by 0.1%, ending at 8,147.00.
Meanwhile, U.S. futures pointed to a weaker opening:
- The S&P 500 futures dropped 0.4%.
- The Dow Jones Industrial Average futures decreased 0.3%.
Asian Markets See Varied Results
In Asian trading, markets displayed contrasting trends:
- Japan’s Nikkei 225 surged by 1.8% to 40,285.25, boosted by a weak yen, which benefits exporters.
- The Hong Kong Hang Seng Index dipped slightly by 0.1%, settling at 20,090.46.
- Shanghai Composite Index gained marginally by 2 points, ending at 3,400.14.
Currency Movement
The U.S. dollar eased to 157.86 Japanese yen from 158.00 yen, continuing its recovery from levels below 150 yen seen earlier this month.
Industrial Profits in China
China’s National Statistics Bureau reported a 7% drop in industrial profits for November compared to the previous year. For the January-November period, profits declined by nearly 5% year-on-year.
South Korea and Australia Markets
- South Korea’s Kospi fell 1% to 2,410.35, following political turmoil as the country’s main opposition party voted to impeach the acting leader amid unresolved Constitutional Court vacancies.
- Australia’s S&P/ASX 200 rose 0.5%, closing at 8,261.80.
U.S. Market Performance and Retail Monitoring
On Thursday, U.S. indices saw muted movements:
- The S&P 500 ended virtually unchanged, dipping less than 0.1%.
- The Dow Jones edged up 0.1%, while the Nasdaq Composite slipped by 0.1%.
Retail Activity Under Watch
Retailers remain a focus as consumers engage in post-Christmas shopping, traditionally one of the top 10 busiest shopping days of the year.
Labor Market and Economic Data Outlook
The U.S. Labor Department reported that initial unemployment claims remained steady, but continuing claims reached their highest level in three years.
Key economic reports expected next week include:
- Pending home sales and home price updates.
- U.S. construction spending data.
- Manufacturing activity reports.
Crude Oil and Currency Markets
- U.S. benchmark crude oil rose by 23 cents, trading at $69.85 per barrel.
- Brent crude gained 18 cents, reaching $73.03 per barrel.
- The euro fell slightly, trading at $1.0412, down from $1.0424.
Stock Market Performance Summary
| Region | Index | Movement | Closing Value |
|---|---|---|---|
| Europe | DAX (Germany) | +0.1% | 19,863.29 |
| CAC 40 (France) | +0.4% | 7,308.99 | |
| FTSE 100 (UK) | -0.1% | 8,147.00 | |
| Asia | Nikkei 225 (Japan) | +1.8% | 40,285.25 |
| Hang Seng (Hong Kong) | -0.1% | 20,090.46 | |
| Shanghai Composite | +0.05% | 3,400.14 | |
| Kospi (South Korea) | -1% | 2,410.35 | |
| S&P/ASX 200 (Australia) | +0.5% | 8,261.80 |
FAQs
1. Why did Japan’s Nikkei Index surge today?
The Nikkei 225 rose due to a weaker yen, which boosts the profitability of exporters when converting overseas earnings to yen.
2. How is the post-Christmas retail performance affecting markets?
Retail activity is closely monitored as post-holiday shopping ranks among the busiest periods, influencing economic sentiment.
3. What caused the decline in South Korea’s Kospi?
Political instability, stemming from the impeachment of the acting leader, weighed on investor sentiment, causing the Kospi to drop.
4. What is the current state of U.S. unemployment claims?
Initial unemployment claims remain steady, but continuing claims are at their highest levels in three years, indicating lingering labor market challenges.
5. How is crude oil trading as 2024 ends?
Crude oil prices showed modest gains, with U.S. benchmark crude at $69.85 per barrel and Brent crude at $73.03 per barrel.
