Fresh inflation data from Tokyo showed that core consumer prices—excluding fresh food—rose 2.3% year on year in December. Although the reading stayed above the Bank of Japan’s long-standing 2% inflation target, it fell short of the 2.5% increase forecast by economists surveyed by Reuters and cooled from November’s 2.8% pace. Because Tokyo’s price trends often presage nationwide figures, Friday’s update will feed into expectations over the timing and scale of any future rate adjustments by the central bank.
South Korea rebounds after prior losses
In South Korea, the Kospi index rose 0.53%, while the tech-focused Kosdaq gained 0.42%. Market heavyweight Samsung Electronics rallied as much as 5%, recouping declines registered during Thursday’s session.
Mainland China and India slip
Mainland Chinese shares were mixed. The CSI 300, which tracks the largest companies listed in Shanghai and Shenzhen, opened 0.15% lower. Investors remained cautious ahead of additional policy signals from Beijing and in light of muted trading activity heading into the year-end period.
In India, the Nifty 50 edged down 0.12%, and the BSE Sensex eased 0.13%. Domestic sentiment was influenced by profit-taking after recent highs and by global cues tied to movements in U.S. interest-rate expectations.
Markets closed elsewhere
Stock exchanges in Australia and Hong Kong did not open because of the holiday, curtailing overall liquidity across the region.
Wall Street futures marginally higher
U.S. equity futures showed slight gains during Asian hours after all three major American benchmarks closed at fresh records on Wednesday. The S&P 500 added 0.32% to finish at 6,932.05, its second consecutive record close. The Dow Jones Industrial Average advanced 288.75 points, or 0.60%, ending at 48,731.16. The Nasdaq Composite gained 0.22% to settle at 23,613.31. Traders will monitor upcoming U.S. economic releases for further clues on when the Federal Reserve might begin trimming interest rates.
Drivers behind the metals rally
The sharp rise in precious-metal prices has coincided with heightened caution toward risk assets. Investors have sought perceived safety as they weigh the prospects of slower global growth, the durability of elevated policy rates, and robust valuations in sectors tied to generative artificial intelligence. According to data compiled by the World Gold Council, inflows into gold-backed exchange-traded products have accelerated in recent weeks, providing additional support for bullion prices.
Silver has benefited from similar safe-haven flows and from expectations of stronger industrial demand in applications such as solar-panel manufacturing and electronics. Analysts note that tight supply conditions could continue underpinning the metal’s price into the new year.
With several major markets closed for the holiday and year-end position-squaring under way, traders cautioned that price swings in both equities and commodities could be amplified by lower trading volumes. Attention in the coming sessions will remain fixed on any fresh economic indicators capable of influencing central-bank policy trajectories in the United States, Japan, and Europe.
Crédito da imagem: Tomohiro Ohsumi/Getty Images News
