The Asia-Pacific markets saw mixed performances on Tuesday as China’s manufacturing data came in below expectations, dampening optimism despite the region’s overall strong annual gains. Some markets celebrated a year of recovery while others faced challenges from sluggish economic data.
China’s CSI 300 Ends Three-Year Losing Streak
Mainland China’s CSI 300 Index ended 2024 with an impressive annual gain of 15%, marking a turnaround after three consecutive years of losses. However, the index fell 1.6% on Tuesday, closing the day at 3,934.91. The dip came as China’s December Purchasing Managers’ Index (PMI) posted a reading of 50.1, slightly below the forecasted 50.3, signaling weaker-than-expected manufacturing growth.
A PMI above 50 indicates expansion, but this marginally positive figure suggests that Beijing’s extensive stimulus measures have yet to provide a significant boost to the country’s struggling economy.
Hong Kong and Taiwan Shine in 2024
Hong Kong’s Hang Seng Index ended the year with a strong recovery, rising nearly 18% in 2024 after four years of declines. On Tuesday, it managed a marginal gain, closing at 20,059.95 during a shortened trading session.
Taiwan’s Taiex Index emerged as the top performer among Asian markets, surging over 29% in 2024. The index closed at 23,035.10 on Tuesday, slipping 0.67% for the day but maintaining its position as a regional leader in annual performance.
Australia Extends Gains; Japan and South Korea Closed
Australia’s S&P/ASX 200 Index dropped 0.92% on Tuesday to close at 8,159.1, yet the market ended the year with an annual gain of 8.5%, marking its second consecutive year of growth.
Japan and South Korea’s stock markets remained closed for the New Year’s Eve holiday. However, South Korea’s consumer price index (CPI) data for December showed inflation accelerating to 1.9% year-on-year, up from 1.5% in November, with prices rising 0.4% month-on-month.
U.S. Markets End the Year on a Sour Note
Overnight in the U.S., Wall Street faced a rocky session, with all major indices closing lower. The Dow Jones Industrial Average fell 418.48 points (or 0.97%) to 42,573.73, while the S&P 500 and Nasdaq Composite declined 1.07% and 1.19%, respectively. Trading volumes were thin as investors wrapped up a year of strong gains.
Looking Ahead to 2025
The recovery in 2024 signals optimism for several Asian markets, but challenges remain, particularly in China, where economic growth appears fragile despite government intervention. Analysts will closely watch the region’s performance in 2025, especially as global economic uncertainty looms.
↔ 
↔ 
↔ 
↔ 
↔ 
↔ 
↔ 
↔ 
↔ 
↔ 
→ 
→ 
→ 
→ 
→ 
→ 
→ 
