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Market Review

US:

Wall Street stocks ended mixed on Friday, with Nvidia climbing and Microsoft dipping, while Treasury yields declined a day after US President Donald Trump unveiled reciprocal tariff plans but stopped short of imposing new ones.

Asia:

Asia-Asian stocks are set to come under pressure early Monday as traders navigate increasing tensions between the US and European Union and looming central bank monetary policy decisions.

India:

The Indian equity benchmark indices closed lower on Friday, registering their longest losing streak in two years. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global economy:

Japan's economy grew 2.8% in the OctoberDecember quarter, exceeding forecasts, driven by strong business spending and domestic demand. Private consumption rose 0.1%, while capital spending increased 0.5%. The positive growth supports the Bank of Japan's plans to raise interest rates, though concerns over price pressures and sluggish consumer spending persist.

Peru's trade surplus widened to USD 2,333 Mn in Dec 2024, up from USD 2,246 Mn last year. Exports rose 9.2% YoY to USD 6,986 Mn, driven by a 15.4% increase in non-traditional and 6.9% in traditional products. Imports grew 12.1% to USD 4,653 Mn, mainly due to higher consumer goods (19%), raw materials (13.4%), and capital goods (5.5%).

New Zealand's visitor arrivals surged 12.2% year-on-year to 469,842 in December 2024, the highest since 2019. Annual arrivals reached 3.31 million, driven by increases from Australia, China, and the U.S., reflecting strong post-pandemic recovery.

Commodities:

Oil declined on the prospect of increased flows from Iraq and Russia, as US President Donald Trump pushes to end the three-year old war in Ukraine. Gold steadied following its largest one-day decline in two months, with the slump sparked by investor concern that the metal’s recent record-breaking rally may have been overdone.

Currency:

The yen rose on Monday in a boost from upbeat Japanese GDP data, while the Australian and New Zealand dollars held broadly steady ahead of policy decisions later in the week. The dollar was on the back foot as traders assessed recent weaker-than-expected U.S. economic data which have reignited bets for more Federal Reserve rate cuts this year.

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