1. #Asian market shares
2. #Wall Street record heights
3. #European market opening
4. #Futures for Dow Jones Industrial Average
5. #Nikkei 225 index
6. #Hang Seng in Hong Kong
7. #China’s commercial banks
8. #S&P 500 rally
9. #U.S. inflation
10. #Energy trading benchmark U.S. crude

Associated Press

HONG KONG (AP) — As Asian markets open, shares show a mix of performances following Wall Street reaching new record heights on Friday. At the same time, Hong Kong’s benchmark experienced a drop of over 2%, remaining near a 15-month low. In contrast, European markets opened with higher numbers.

Futures for the Dow Jones Industrial Average rose by 0.2%, and the S&P 500 saw an increase of 0.3%. The early trading in Europe shows France’s CAC 40 adding 0.5% to 7,434.81, Germany’s DAX going up 0.4% to 16,635.19, and Britain’s FTSE 100 climbing 0.7% to 7,510.86.

Looking at Asian markets, Tokyo’s Nikkei 225 index gained 1.7% to 36,546.95. The Bank of Japan started a two-day policy meeting on Monday, and was expected to keep its ultra-low interest rates unchanged. However, the Hang Seng in Hong Kong lost 2.3% to 14,961.18, and the Shanghai Composite index was down 2.7% at 2,756.34.

China’s commercial banks kept their loan prime rate unchanged Monday amid downward pressure on the yuan, disappointing investors who anticipated measures to stimulate the economy. Last week, the People’s Bank of China surprised markets by keeping its medium-term lending facility rate unchanged. In South Korea, the Kospi fell 0.3% to 2,464.35, while Australia’s S&P/ASX 200 advanced 0.8% to 7,476.60. In Bangkok, the SET was down 0.6%, while in Taiwan the Taiex gained 0.8%.

On Friday, the S&P 500 rallied 1.2% to its record of 4,839.81, and the Dow Jones Industrial Average set its own record, gaining 1.1% to 37,863.80. The Nasdaq composite jumped 1.7% to 15,310.97, with the run-up being driven by hopes for rate cuts as U.S. inflation remained tame.

Treasury yields have relaxed significantly on expectations for rate cuts, which helped to accelerate the stock market’s rally sharply in November. The Fed itself has hinted that rate cuts are coming, though some officials have indicated they may begin later than the market is hoping for.

Friday’s boost for Wall Street was notably supported by technology stocks, with chip companies rising for a second straight day after heavyweight chipmaker Taiwan Semiconductor Manufacturing Co. delivered a better revenue forecast than analysts expected. In energy trading, benchmark U.S. crude dropped to $72.79 a barrel while Brent crude lost ground at $78.01 a barrel.

The U.S. dollar inched up to 148.22 Japanese yen from 148.14 yen, and the euro cost $1.0894, down from $1.0897.

Summery :

– Asian markets were mixed on Monday with Hong Kong’s Hang Seng dropping over 2%
– European markets opened higher
– Futures for Dow Jones Industrial Average advanced 0.2% and S&P 500 was up 0.3%
– The Hang Seng in Hong Kong lost 2.3%
– The index has shrunk more than 10% this year, it’s worst start to a year since 2016
– The Shanghai Composite index was down 2.7%
– Technology stocks contributed to Wall Street’s record heights
– Benchmark U.S. crude gave up 46 cents to $72.79 a barrel
– The U.S. dollar inched up to 148.22 Japanese yen and the euro cost $1.0894

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