On Monday morning (2 December, 9:34 AM, GMT+7, Bangkok time), most indices in Asia Pacific increased as investors prepared for a slew of economic data coming this week such as inflation data from China and Japan, Australia’s retail sales, and South Korea’s trade data.
China’s November manufacturing PMI registered at 50.3, marking its strongest level since April and exceeding the 50.2 forecasted by economists surveyed by Reuters. In October, the manufacturing PMI was 50.1. In addition, the non-manufacturing PMI dropped to 50.0 from the previous month’s 50.2, while the composite PMI remained unchanged at 50.8.
In October, Australia saw a robust 3.4% increase in retail sales, marking its most rapid year-on-year growth since May 2023.
As for South Korea, preliminary trade figures indicated that exports expanded at the weakest rate since September 2023. In November, exports grew by 1.4% year-on-year, falling short of the 2.8% growth projected by a Reuters poll and marking a significant downturn from the 4.6% increase seen in October.
South Korea’s KOSPI rose by 0.23% to 2,461.63. Australia’s ASX 200 grew by 0.16% to 8,449.9, while Japan’s NIKKEI slid by 0.03% to 38,196.39.
As for stocks in China, Shanghai’s SSEC added by 0.6% to 3,346.33. Hong Kong’s HSI surged by 0.68% to 19,556.21, and Shenzhen’s SZI expanded by 0.83% to 10,699.93.
Meanwhile, the US stock markets edged up on Friday as the Dow Jones Industrial Average (DJIA) escalated by 0.42% to 44,910.65. NASDAQ gained 0.83% to 19,218.17, and S&P 500 increased by 0.56% to 6,032.38. VIX declined by 2.81% to 13.51.
As for commodities, oil prices settled lower on Friday following reduced worries about supply disruptions stemming from the Israel-Hezbollah conflict and the anticipation of heightened supply in 2025. This comes despite expectations that OPEC+ will prolong output reductions. Brent futures dropped 34 cents or 0.46% to $72.94 a barrel, and the West Texas Intermediate (WTI) lost 72 cents or 1.05% to $68 per barrel.
This morning, Brent futures rose 34 cents or 0.47% to $72.18 a barrel, and the WTI added 34 cents or 0.5% to $68.34 per barrel.
Meanwhile, gold futures decreased 1.06% to $2,652.6 per Troy ounce.
