Morning Update: 31.12.2024

📉 Asian Markets:

On the final trading day of 2024, Asian stocks dipped in thin holiday trading.

MSCI Asia-Pacific Index: -0.2%, but up 8% for the year.

Markets closed in 🇯🇵 Japan, 🇰🇷 South Korea, and 🇹🇭 Thailand.

Shortened sessions in 🇭🇰 Hong Kong, 🇵🇭 Philippines, 🇦🇺 Australia, and 🇳🇿 New Zealand.

📊 China:

Manufacturing PMI slowed in December: 50.1 (vs. 50.3 in November).

CSI 300: -0.4%

Shanghai Composite: -0.4%

Hang Seng: +0.7% 📈

Non-Manufacturing PMI improved to 52.2 (from 50.0).

🇰🇷 South Korea:

Political turmoil deepens:

Arrest warrant approved for impeached President Yoon Suk Yeol following martial law declaration in December.

Acting President Han Duck-soo also impeached.

Nation mourns Sunday's Jeju Air crash (179 fatalities).

💱 Currencies:

Most Asian currencies weakened vs. the dollar:

Dollar Index: 107.95 (-0.1%) but near 2-year highs.

USD/JPY: 156.43 (-0.3%), on track for a 10% annual loss.

USD/INR: Rupee hit record lows, down over 3% in 2024.

🛢️ Commodities:

Oil Prices:

Brent: $74.64 (+0.8%)

WTI: $71.67 (+0.9%)

Both benchmarks face yearly losses (-3.2% & -0.6%).

Gold: $2,607 (flat), set for a 26% yearly gain, its best in a decade! 🌟

Silver: $29.31 (steady), Copper: $8,925 (-0.2%).

🍫 Top Performers:

Cocoa & coffee dominated in 2024: Cocoa prices nearly tripled due to supply deficits.

🚗 Tech & Regulations:

Beijing introduces regulations for autonomous vehicles.

From April 2025: Driverless public buses & taxis allowed post-safety checks.

Major players: Baidu's Apollo Go, Pony.ai, and Tesla (launching full self-driving in Q1 2025).

🌍 New Year’s Eve Closures:

Fully closed: 🇩🇪 Germany, 🇨🇭 Switzerland, 🇮🇹 Italy, 🇧🇷 Brazil, 🇰🇷 South Korea.

Early closures:

🇭🇰 Hong Kong & 🇸🇬 Singapore: 12:00

🇬🇧 UK: 12:30

🇳🇿 New Zealand: 12:45

🇪🇸 Spain: 14:00

🇫🇷 France: 14:05

🇦🇺 Australia: 14:10

🎆 Wishing you a prosperous end to 2024 and a fantastic 2025! 🥂