Asian stocks started the week on a mixed note after Wall Street suffered its worst drop since Election Day.
- Japan: The Nikkei 225 fell 1% to 38,255.65, with the yen strengthening after BOJ
- Governor Kazuo Ueda hinted at potential rate hikes. The dollar slipped to ¥154.46 from ¥154.54.
- South Korea: The Kospi surged 2% to 2,465.60 as Samsung Electronics announced a share buyback plan, boosting its stock by 6%.
- China: The Hang Seng gained 1.2% to 19,655.58, and the Shanghai Composite rose 1.2% to 3,372.18, supported by improved retail spending data signaling effective stimulus policies.
- Elsewhere: Australia’s ASX 200 added 0.1%, while Taiwan’s Taiex dropped 0.8%.
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Wall Street recap:
- On Friday, the S&P 500 dropped 1.3%, the Dow lost 0.7%, and the Nasdaq fell 2.2%, ending a losing week. Concerns over President-elect Trump’s policies, including his choice of vaccine skeptic RFK Jr. for HHS, weighed on vaccine and biotech stocks.
Other highlights:
- U.S. crude rose to $67.19 per barrel, and Brent crude hit $71.33.
- The euro strengthened slightly to $1.0539.
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