Shanghai Pudong district at sunrise
Dukai Photographer | Moment | Getty Images
Asia-Pacific markets rose Monday, ahead of Donald Trump’s presidential inauguration as investors awaited greater clarity on the policies of the incoming U.S. administration.
Hong Kong’s Hang Seng index hit its highest level since Dec. 31 before paring gains, lifted by the consumer cyclicals and health-care firms, data from LSEG showed. The HSI was up 1.76% in its last hour of trade.
Mainland China’s CSI 300 added 0.45% to end the day at 3,829.68 after China left its benchmark lending rates unchanged Monday.
The People’s Bank of China held the 1-year loan prime rate at 3.1%, and the 5-year LPR at 3.6%. The offshore yuan strengthened modestly to 7.3345 against the greenback, while the onshore yuan traded at 7.323 per U.S. dollar.
Japan’s Nikkei 225 climbed 1.17% to end the day at 38,902.50, while the Topix added 1.19% to close at 2,711.27. South Korea’s Kospi slipped 0.14% to close at 2,520.05 while the Kosdaq ended 0.41% higher at 727.66.
Australia’s S&P/ASX 200 rose 0.45% to close at 8,347.40.
Malaysia’s exports in December surged 16.9% year on year, shooting past Reuters’ estimates of 8.8%. This compares to November’s 4.1% rise. The country’s imports grew 11.9% compared to Reuters’ forecasts of 5.2%.
Several central banks in Asia will be convening later this week. Malaysia’s central bank is expected to keep its policy rate steady at 3% on Wednesday. The Bank of Japan is holding its next policy meeting from Jan. 23 to Jan 24 — BOJ Governor Kazuo Ueda has signaled intentions to hike rates. Singapore’s Monetary Authority of Singapore will be meeting on Friday.
The three major averages posted their first weekly gain of the new year on Friday.
The Dow Jones Industrial Average added 334.70 points, or 0.78%, to end at 43,487.83. The S&P 500 gained 1% to 5,996.66, and the Nasdaq Composite advanced 1.51% to 19,630.20.
President-elect Trump and Chinese President Xi Jinping spoke on the phone Friday about trade, Tiktok, fentanyl and more, talks which Trump described as “very good.”
U.S. markets will be closed on Monday.
— CNBC’s Hakyung Kim and Lisa Kailai Han contributed to this report.
South Korea pledges record financial support for exporters as Trump returns to White House
South Korea’s finance ministry pledged to provide a record 360 trillion won ($247.74 billion) of financial support to its exporters as Donald Trump is set to begin his second term as president.
The ministry also announced it will increase its exchange rate insurance support to 1.4 trillion won this year, up from 1.2 trillion won in 2024.
The statement added that semiconductors and rechargeable batteries were among sectors more at risk from potential new U.S. policies.
— Lee Ying Shan
China keeps benchmark lending rates unchanged as it contends with a weakening yuan
China left its benchmark lending rates unchanged Monday, as Beijing contends with a weakening yuan while awaiting policy clues from the incoming Donald Trump administration.
The People’s Bank of China held the 1-year loan prime rate at 3.1%, and the 5-year LPR at 3.6%, according to the PBOC statement.
The 1-year LPR determines rates on corporate and most household loans, while the 5-year LPR acts as a reference for mortgage loans.
Read the full story here.
— Anniek Bao
Stocks end higher Friday
The major averages ended Friday higher and notched weekly gains.
The Dow Jones Industrial Average added 334.70 points, or 0.78%. The S&P 500 gained 1%, while the Nasdaq Composite rose 1.51%.
For the week, the Dow is up 3.69%, while the broad market index and the tech-heavy Nasdaq have climbed 2.91% and 2.45%, respectively.
— Hakyung Kim
China ETF up more than 3%
The KraneShares China Internet ETF (KWEB) is up 3.2% Friday, slightly below its earlier high after the Supreme Court ruled to uphold the ban on TikTok.
The exchange-traded fund is pacing for its fourth positive session in the past five, as well as its best day since Dec. 9, 2024, when it gained 10%. It is also on pace to break a four-week losing streak, with its best weekly performance since early October 2024.
Kanzhun, Weibo, PDD Holdings and Tencent Music are among the stock leading the ETF higher.
KWEB ETF on Friday
— Hakyung Kim