On Monday morning (23 December, 9:21 AM, GMT+7, Bangkok time), major indices in Asia Pacific exhibited an upward trend as investors eagerly awaited the official announcement regarding the merger between Honda and Nissan.
Presidents of Honda, Nissan, and Mitsubishi have informed Japan’s industry ministry about their intention to engage in merger discussions, as reported by Kyodo News on Monday.
According to NHK, board meetings are scheduled for Monday at Honda and Nissan to deliberate on moving towards a comprehensive dialogue for business integration, followed by the signing of a memorandum of understanding. The companies are targeting a “final agreement” by June 2025, as mentioned by NHK.
Meanwhile, in the U.S. last Friday, all three primary indices made gains, supported by inflation data that was milder than anticipated.
The personal consumption expenditures price index, which is the Federal Reserve’s preferred measure of inflation, rose to 2.4% in November from 2.3% in the preceding month. However, this figure fell short of the 2.5% estimate from Dow Jones.
Excluding food and energy, the core PCE increased by 2.8% compared to the previous year, slightly underperforming expectations of 2.9%.
Japan’s NIKKEI grew by 0.9% to 39,050.5. South Korea’s KOSPI soared by 1.41% to 2,438.15, and Australia’s ASX 200 escalated by 1.17% to 8,161.1.
As for stocks in China, Hong Kong’s HSI expanded by 0.34% to 19,787.89. Shenzhen’s SZI climbed by 0.03% to 10,650.02, while Shanghai’s SSEC remained unchanged at 3,368.13.
Meanwhile, the US stock markets edged up on Friday as the Dow Jones Industrial Average (DJIA) jumped by 1.18% to 42,840.26. NASDAQ surged by 1.03% to 19,572.6, and S&P 500 increased by 1.09% to 5,930.85. VIX plummeted by 23.79% to 18.36.
As for commodities, oil prices rose on Monday, following a positive trend among other high-risk assets, as U.S. data indicated a decrease in inflation. This development has reignited expectations for additional policy adjustments next year, which are anticipated to bolster global economic growth and fuel demand. Brent futures added 26 cents or 0.4% to $73.20 a barrel by 0141 GMT, and the West Texas Intermediate (WTI) gained 31 cents or 0.5% to $69.77 per barrel.
This morning, Brent futures added 34 cents or 0.47% to $73.28 a barrel, and the WTI surged 36 cents or 0.52% to $69.82 per barrel.
Meanwhile, gold futures slid 0.17% to $2,640.5 per Troy ounce.
