Asia-Pacific markets trade mixed on Monday following a drop on Wall Street on Friday. Traders were cautious amid thin trading ahead of the New Year holiday and high US Treasury yield. In thin trading volume, investors digested private survey data showing the sixth straight month of fall in Japan's manufacturing for December, albeit at a slower pace. Japan ( NKY:IND ) fell -0.80% to 40,014 in early deals on the final trading day of 2024, marking the first drop in three sessions. The Japanese yen held steady around 157.8 per dollar on Monday, staying near a five-month low, as investors continued to assess the Bank of Japan's interest rate outlook. In thin trading volume, investors digested private survey data showing the sixth straight month of fall in Japan's manufacturing for December , albeit at a slower pace. China ( SHCOMP ) rose +0.29% around 3,303 on Monday, while the Shenzhen Component rose 0.4% to 10,704, as investors awaited China's December PMI data later this week. Trading remained subdued amid light activity leading up to the New Year holiday. Hong Kong ( HSI ) rose +0.07% to 20,025 in the Monday morning session, weighed by weakness in property, tech, and consumers. India ( SENSEX ) rose +0.08% trading around 78,690 in Monday morning deals, after gains in the previous sessions, as investors anticipated a series of economic reports, including PMI data for India, the US, and China later this week. Traders also continued to monitor the Union Budget for 2025-26, amid government plans to reduce income tax for people earning up to 1.5 million rupees a year to boost domestic consumption. Australia ( AS51 ) fell -0.32% to 8,232 in morning trade on Monday, after reaching its highest level in over a week during the previous session. The South Korean won rose to around 1,467 per dollar, after hovering at sixteen-year lows in the previous session and ending a two-session losing streak. Over the weekend, South Korea's retail sales rose 0.4% month-on-month in November 2024, marking the first increase in four months and recovering from an upwardly revised 0.8% decline in the previous month. In the U.S., on Friday, all three major indexes ended in the red due to a sell-off in major technology companies. On the political front, Donald Trump is expected to issue at least 25 executive orders upon taking office on January 20. This week's economic calendar includes key data releases, such as pending home sales, the Dallas Fed Manufacturing Index, and housing market figures. U.S. stock futures declined on Monday in the face of rising US Treasury yields and potentially fewer interest rate reductions in 2025: Dow -0.15% ; S&P 500 -0.13% ; Nasdaq -0.15% . Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ). More on Asia: Japan's December manufacturing PMI fall at slower pace, for sixth straight month 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
