๐ Asian Markets
Asian stocks showed mixed performances:
๐ฐ๐ท South Korea: The KOSPI surged nearly 2% following new investment policies.
๐จ๐ณ China: The CSI 300 remained flat, while ๐ญ๐ฐ Hong Kong's Hang Seng rose 1% on stimulus hopes.
๐ฏ๐ต Japan: Markets remained closed for holidays.
๐ฐ South Korea's Political Crisis
The crisis deepened as authorities entered President Yoonโs compound to execute an arrest warrant after his impeachment. The government introduced measures to boost foreign investment and stabilise markets amid economic challenges.
๐ฐ Chinaโs Fiscal Boost
Beijing announced plans to sharply increase ultra-long treasury bond funding in 2025. Special bonds will support initiatives like:
๐ฑ Consumer subsidies for digital products
๐ Trade-in programmes for durable goods
๐บ๐ธ 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 Trumpโs inauguration, aligning with his anti-deal stance.
โ๏ธ 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.
๐น 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.
๐ช Commodities & Crypto
๐ช Gold: Up 0.2% to $2,662.94, heading for a 2% weekly gain.
โ๏ธ Copper: Flat at $8,815.50 after weak Chinese manufacturing data.
โ Bitcoin: Rose 1.2% to $96,852.
๐ต Tether: Market cap fell 1.4% to $137 billion after new EU crypto regulations.
๐ข Oil Rises
๐ Brent: +0.3% to $76.15
๐บ๐ธ WTI: +0.3% to $73.38
๐ Teslaโs 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! ๐
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