On Monday morning (17 February, 9:26 AM, GMT+7, Bangkok time), major indices in Asia Pacific traded mixed as traders analyzed Japan’s 4Q24 economic growth and braced for a wave of economic data expected in the region this week, including interest rate decisions from Australia, Indonesia, and New Zealand.
In the fourth quarter of 2024, Japan’s economy expanded by 2.8% on a yearly basis, significantly higher than the 1% predicted by a Reuters poll. This robust performance was fueled by increased business investments and stronger-than-anticipated consumer spending.
In Thailand, the country’s economy expanded by 3.2% in the last quarter of 2024 compared to the same period the previous year. The growth was less than the 3.9% increase expectations anticipated by analysts in a Reuters survey.
Japan’s NIKKEI climbed by 0.08% to 39,178.97. South Korea’s KOSPI rose by 0.76% to 2,610.64, while Australia’s ASX 200 dropped by 0.88% to 8,480.9.
As for stocks in China, Shanghai’s SSEC slid by 0.14% to 3,341.93. Hong Kong’s HSI declined by 0.29% to 22,555.46, while Shenzhen’s SZI added 0.16% to 10,766.38.
Meanwhile, the US stock markets were mixed on Friday as the Dow Jones Industrial Average (DJIA) shrank by 0.37% to 44,546.08. S&P 500 edged down by 0.01% to 6,114.63, while NASDAQ grew by 0.41% to 20,026.77. VIX plummeted by 2.19% to 14.77.
As for commodities, oil prices settled lower on Friday amid optimism surrounding a potential peace agreement between Russia and Ukraine, which could alleviate global supply issues by lifting sanctions on Moscow. However, the decline in prices was contained due to a hold-up in the U.S. implementing immediate reciprocal tariffs. Brent futures for April fell 28 cents or 0.37% to $74.74 a barrel, and the West Texas Intermediate (WTI) decreased 55 cents or 0.77% to $70.74 per barrel.
This morning, Brent futures dipped 14 cents or 0.19% to $74.6 a barrel, and the WTI lost 21 cents or 0.3% to $70.53 per barrel.
Meanwhile, gold futures climbed 0.26% to $2,908.1 per Troy ounce.
