📊 Market Recap: Mixed Performance in Asian Equities Post-Reopen

🔻 Japan (Nikkei 225)

Reopened after a week, initially positive but closed down -1.6%.

Weakness attributed to concerns over FX levels and economic headwinds.

🔺 South Korea (Kospi)

Outperformed major Asian indices with a gain of +2.4%, shrugging off domestic political uncertainties.

Kospi up +5% since hitting a Dec 26th low.

🔺 Taiwan (Taiex)

Led the region with a +2.6% rally, boosted by Foxconn’s strong revenue growth (+42.3% y/y).

🌍 Broader Asia Trends:

Chinese Yuan (CNH): Despite nearing multi-year lows, PBOC reassured markets with promises of "ample tools" to manage depreciation.

Japanese Yen (JPY): Continued weakness, with USD/JPY nearing 158, its lowest since July 2024.

📈 Key Economic Highlights:

China: Dec Caixin PMI Services hit 52.2, the highest since May 2024, signaling strong expansion.

Australia: Dec Final PMI Services climbed to 50.8, marking an 11th consecutive month of growth.

India: Dec Services PMI confirmed 41 months of expansion, though slightly lower at 59.3.

🛢 Commodities & Forex:

Gold: Slightly lower at $2,646/oz (-0.3%).

Oil: Brent crude down -0.5%, trading at $73.60/barrel.

FX Levels: EUR/USD at 1.032, AUD/USD at 0.622, USD/JPY at 157.8.

🗓 Upcoming Events to Watch:

Mon, Jan 6: Germany Dec CPI.

Tue, Jan 7: US ISM Services PMI, EU Dec CPI.

Wed, Jan 8: Japan Consumer Confidence, US FOMC Minutes.

Thu, Jan 9: Australia Trade Balance & Retail Sales.

Fri, Jan 10: US Non-Farm Payrolls.

📢 Market Outlook:

While Japan struggles post-reopening, South Korea and Taiwan show resilience. Chinese economic data continues to highlight growth, with FX and bond markets closely monitored. Investors remain cautious ahead of key global economic releases this week.

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