Asia markets set to open mixed, tracking Wall Street moves that saw investors rotate out of tech

Asia markets set to open mixed, tracking Wall Street moves that saw investors rotate out of tech
by Finance Daily News
January 13th, 2025

This is CNBC's live blog covering Asia-Pacific markets.

Asia-Pacific markets were set to open higher after a mixed session on Wall Street that saw the Dow soar and the Nasdaq slip as investors rotated out of tech stocks.

Australia's S&P/ASX 200 rose 0.55% on open.

Japan's Nikkei 225 futures pointed to a lower open for the market as trading resumed after a holiday, with the futures contract in Chicago at 38,870 while its counterpart in Osaka last traded at 38,770 compared to the index's Friday close of 39,190.4.

Hong Kong's Hang Seng index futures were at 18,903, higher than the HSI's last close of 18,874.14.

Investors will continue monitoring India's rupee after it weakened to a record low against the U.S. dollar. India on Monday reported inflation data for December, which declined for a second straight month year on year, coming in just below expectations at 5.22% and boosting the case for prospective interest rate cuts.

Japan is slated to report its current account balance for November, and Thailand will be releasing its consumer confidence index for December.

All three benchmarks have declines for the past two weeks, with tech shares causing most of the damage.

-- CNBC's Hakyung Kim and Brian Evans contributed to this report.

The S&P 500 and Dow Jones Industrial Average ended Monday's session in the green.

The broad market index added 0.16%, while the Dow rose 0.86%.

The tech-heavy Nasdaq Composite underperformed the market and closed 0.38% lower.

-- Hakyung Kim

Energy has emerged as the top-performing sector month to date in what has been a rocky start for the market.

The sector has gained 5% as oil prices spiked following the U.S.' broadening of sanctions on Russian oil on Jan. 8.

Meanwhile, real estate and information technology are down 2.8% each in January, making them tied for the biggest underperformers in the S&P 500.

Finance Daily News
Copyright © 2024 Finance Daily News.
All rights reserved.