Asia-Pacific markets trade mixed on Friday as some markets return from the Boxing Day holiday and investors assessed economic data from the region. Market sentiment remained subdued amid growing political unrest as South Korea's main opposition party moved to impeach acting President Han Duck-soo, with a vote set later in the day. Japan ( NKY:IND ) rose +1.61% to 40,005 in early deals on Friday, rallying for the second session and heading for solid weekly gains amid rises in most sectors. The Japanese yen appreciated to around 157.6 per dollar on Friday, but remained near a five-month low, as investors digested Tokyo’s latest inflation data and the Bank of Japan’s December Summary of Opinions. Meanwhile, Japan's economic data presented a mixed outlook: retail sales growth accelerated, industrial production contracted, and the jobless rate remained steady. Japan's housing starts declined by 1.8% year-on-year in November 2024, slowing from a 2.9% drop in the previous month. China ( SHCOMP ) fell -0.04% to 3,393, while the Shenzhen Component rose 0.3% to 10,700 on Friday, as mainland stocks struggled to find clear direction amid investor uncertainty over the government’s stimulus policies. On the economic front, profits at China’s industrial firms fell 4.7% year-on-year to CNY 6,667.48 billion in the first 11 months of 2024, a sharper decline than the 4.3% drop recorded in the prior period. In corporate news, CATL, the leading EV battery manufacturer, saw its shares fall 0.8% following its plans for a secondary listing in Hong Kong. Hong Kong ( HSI ) fell -0.05% to 20,017 on Friday morning, breaking a two-session winning streak as trading resumed after the Christmas holidays. India ( SENSEX ) rose +0.47% to 78,998 in morning trade on Friday, after being flat the day before, mainly supported by gains in auto, pharmaceuticals, and healthcare sectors. A statement from the government lifted sentiment, as India's economy is expected to grow at around 6.5% in FY 2024/25 despite a challenging environment. The forecasts are close to the lower end of its 6.5%-7% projection, as global uncertainties pose a dampening threat. Australia ( AS51 ) rose +0.50% to finish at 8,262 on Friday, reaching its highest level in over a week and gaining for the 3rd straight session, supported by gains in consumer discretionary, energy, and materials after the Christmas break. The South Korean won plunged further past 1,480 per dollar, hovering at its lowest level in nearly 16 years, as political unrest escalated following an impeachment motion against acting President Han Duck-soo. The vote, set for later today, marks the first time in Korea’s constitutional history that an impeachment motion against an acting president has been brought to a vote in the National Assembly. In the U.S., on Thursday, all three major indexes ended muted a day after the Christmas holiday with markets remaining subdued as they evaluated the potential impact of the Federal Reserve's higher interest rates on corporate earnings in the coming year U.S. stock futures modestly declined on Friday after a quiet post-holiday session on Wall Street Thursday, with jobless claims data having minimal impact on altering expectations for the Fed's outlook: Dow -0.15% ; S&P 500 -0.22% ; Nasdaq -0.29% . Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ). More on Asia: BOJ's Dec summary raises expectations of rate hike soon; keeps policy rate steady at 0.25% Japan's retail sales growth accelerates, industrial output contracts; jobless rate remains steady RBA minutes: Underscores need to maintain restrictive monetary policy for the time being People's Bank of China keeps key lending rates steady for second straight month, as expected Japan’s Nov headline inflation rate rises to three-month high of 2.9%; core inflation tops forecast
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