On Wednesday morning (15 January, 9:17 AM, GMT+7, Bangkok time), most indices in Asia Pacific exhibited an upward trend as investors assessed key data from Japan and the US.
The latest Tankan survey showed a rebound in business confidence among large manufacturers in Japan, with a reading of plus 2. This turnaround comes after a 10-month spell of pessimism, as the previous December recorded a reading of minus 1.
The US’s producer price index, a gauge of wholesale inflation, in December only saw a modest increase of 0.2%, as reported by the Bureau of Labor Statistics. This figure fell short of the 0.4% growth predicted by economists surveyed by Dow Jones. Meanwhile, the core PPI, which excludes food and energy prices, remained unchanged.
In South Korea, President Yoon Suk Yeol has reportedly been detained by South Korea’s Corruption Investigation Office for High Ranking Officials. This marks the second attempt to arrest the impeached president, with the previous bid taking place on January 3. During the earlier failed endeavor, agents from South Korea’s Presidential Security Service obstructed investigators from entering Yoon’s residence.
Japan’s NIKKEI added by 0.28% to 38,581.26. South Korea’s KOSPI rose by 0.37% to 2,506.72, and Australia’s ASX 200 grew by 0.21% to 8,248.4.
As for stocks in China, Shanghai’s SSEC slid by 0.09% to 3,237.88. Shenzhen’s SZI fell by 0.69% to 10,094.58, while Hong Kong’s HSI climbed by 0.01% to 19,220.78.
Meanwhile, the US stock markets were mixed on Tuesday as the Dow Jones Industrial Average (DJIA) increased by 0.52% to 42,518.28. S&P 500 gained 0.11% to 5,842.91, while NASDAQ edged down by 0.23% to 19,044.39. VIX contracted by 2.5% to 18.71.
As for commodities, oil prices settled lower on Tuesday after a U.S. government projection indicated steady U.S. oil demand for 2025. However, the drop was limited by the imposition of new U.S. sanctions on Russian oil shipments to major purchasers such as India and China. Brent futures declined $1.09 or 1.35% to $79.92 a barrel, and the West Texas Intermediate (WTI) dropped $1.32 or 1.67% to $77.50 per barrel.
This morning, Brent futures surged 2 cents or 0.03% to $79.94 a barrel, and the WTI expanded 10 cents or 0.13% to $77.60 per barrel.
Meanwhile, gold futures escalated 0.2% to $2,687.6 per Troy ounce.
