Asian markets settle mostly higher on Friday

17 Jan 2025 Evaluate

Asian markets settled mostly higher on Friday after China’s GDP grew 5.4% over the year in the fourth quarter of 2024 after reporting a 4.6% expansion in the third quarter, while the Chinese economy expanded 5% for the whole year of 2024 in line with the official growth target. Separate data revealed that China’s industrial production climbed 6.2% in December from a year earlier versus expectations of 5.4%, and Retail sales in December jumped 3.7% from a year earlier, exceeding forecast of 3.5%. The markets were cheered further by comments from Federal Reserve Governor Christopher Waller that officials could lower rates again in the first half of 2025 if inflation data continue to be favourable. But some gains were limited by caution ahead of a US holiday weekend and President-elect Donald Trump's inauguration and tariff policies. Japanese shares declined as the yen surged amid expectations of a Bank of Japan interest rate hike next week. Earlier this week, BoJ Governor Kazuo Ueda had said that a hike was possible if economic and price conditions continue to improve. Seoul shares fell, a day after the Bank of Korea surprised markets by keeping its policy interest rate at 3%, contrary to widespread expectations of a 25-basis point cut.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,241.82	5.79	0.18
Hang Seng	19,584.06	61.17	0.31
Jakarta Composite	7,154.66	47.14	0.66
KLSE Composite	1,566.72	11.18	0.72
Nikkei 225	38,451.46	-121.14	-0.32
Straits Times	3,810.78	9.65	0.25
KOSPI Composite	2,523.55	-3.94	-0.16
Taiwan Weighted	23,148.08	122.98	0.53

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