Asian markets to resume trading after New Year’s Day holiday | Wilnesh News

Australian shares opened higher on Thursday, with several other Asian markets set to resume trading after the New Year’s Day holiday.

Australia’s S&P/ASX 200 opened up 0.17%. Japanese markets were closed Thursday and Friday for bank holidays.

South Korea’s stock market will open one hour later than usual at 10 a.m. local time. According to exchangedue to the New Year opening ceremony.

Asian traders assessed Singapore’s gross domestic product data. According to preliminary estimates, the economy Annual increase of 4.3% In the fourth quarter of 2024, the growth rate was 5.4% lower than the previous quarter.

GDP forecasts are compiled primarily based on data from the first two months of the quarter and are subject to revision when more data becomes available, According to the Department of Trade and Industry.

Official data showed on Thursday that economic growth will accelerate to 4% in 2024 from 1.1% in 2023.

China’s Caixin/S&P Global Manufacturing Purchasing Managers Index for December will be released soon. Economists expect manufacturing activity to be 51.7, slightly higher than November’s 51.5, according to LSEG data.

The private survey was released a day after the official PMI for December came in below expectations at 50.1.

U.S. stock futures were little changed as traders braced for the new year after all three major indexes posted double-digit annual gains in 2024.

Futures linked to the Dow Jones Industrial Average is flat, and S&P 500 Index Futures up 0.06%, Nasdaq 100 Futures up 0.17%.

The S&P 500 recorded annual gains of more than 20% for the second consecutive year, rising 23.31% last year and 24.2% in 2023.

—CNBC’s Christina Cheddar Berk contributed to this report.