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Global stocks began 2025 in muted fashion while the dollar advanced Thursday as markets gird for a much heavier news flow later in January with the inauguration of President-elect Donald Trump.US stocks opened the day higher but tumbled into the red mid-session before concluding the day modestly lower.”It feels like we won’t have all of the players back until Monday,” said Art Hogan of B. Riley Wealth Management. “We’re stuck in holiday mode.”London, bolstered by rising commodity shares to offset banks going in the opposite direction, closed with a one percent gain, while Frankfurt ended 0.6 up and Paris eked out a narrow gain.The Hong Kong and Shanghai stock markets had set a negative tone earlier, slumping more than two percent while Tokyo was closed.Investors are gearing up for big changes in the weeks ahead, especially the January 20 presidential inauguration of Trump, who has threatened deep tariffs that could rattle international trade.There are also significant economic releases in the coming period relating to the job market, inflation and retail sales during the holiday shopping season.”We know that part of the policy mix that the incoming president is recommending is pro-growth and part could cause some market volatility like the policies around trade and immigration,” said Angelo Kourkafas of Edward Jones. The dollar index hit its highest level against other currencies since November 2022, reflecting expectations that the US economy will outpace others. Both the euro and the pound fell sharply against the US currency.”Optimism about the strength of the mighty US economy remains buoyant for 2025,” Susannah Streeter, head of money and markets at Hargreaves Lansdown, said Thursday. “Already growth has kept outpacing forecasts as consumers and companies have shrugged off the impact of high interest rates.”Oil and natural gas prices also pushed higher, boosted by forecasts for a cold wave in parts of the United States in the coming period.Among individual companies, Tesla slumped 6.1 percent after fourth-quarter auto sales lagged expectations. While the result was disappointing, analysts noted that Tesla shares have rocketed higher since the US election.Constellation shot up 8.4 percent after announcing it won more than $1 billion in US contracts to supply power to government agencies.- Key figures around 2150 GMT -New York – Dow: DOWN 0.4 percent at 42,392.27 (close)New York – S&P 500: DOWN 0.2 percent at 5,868.55 (close)New York – Nasdaq Composite: DOWN 0.2 percent at 19,280.79 (close)London – FTSE 100: UP 1.1 percent at 8,260.09 (close)Paris – CAC 40: UP 0.2 percent at 7,393.76 (close)Frankfurt – DAX: UP 0.6 percent at 20,024.66 (close)Tokyo – Nikkei 225: closedHong Kong – Hang Seng Index: DOWN 2.2 percent at 19,623.32 (close)Shanghai – Composite: DOWN 2.7 percent at 3,262.56 (close)Euro/dollar: DOWN at $1.0269 from $1.0356 on WednesdayPound/dollar: DOWN at $1.2382 from $1.2517Dollar/yen: UP at 157.52 yen from 157.24 yenEuro/pound: UP at 82.92 from 82.74 penceBrent North Sea Crude: UP 1.7 percent at $75.93 per barrelWest Texas Intermediate: UP 2.0 percent at $73.13 per barrelburs-jmb/md

Wall Street made a positive start to the year Monday, shrugging off falls in Asia as investors await planned tariffs from US president-elect Donald Trump, adding to China’s economic struggles.Midway through 2025’s first session, while the Dow was just 0.2 percent in the green the tech-heavy Nasdaq Composite Index had added around 0.6 percent.That was despite EV maker Tesla, facing rising electric vehicle competition in China and other major markets, slipping around five percent after posting its first annual drop in electric vehicle deliveries.”The stock market ended 2024 with a whimper, but it is poised to begin 2025 with a bang,” Briefing.com’s Patrick O’Hare wrote in a note before markets opened on Wall Street. Axel Rudolph, senior analyst with IG, saw European indices as “being dragged higher by their US counterparts”, helping lift Paris, currently mired in political uncertainty, to a positive finnish.London, bolstered by rising commodity shares to offset banks going in the opposite direction, closed with a one percent gain, while Frankfurt ended 0.6 up.The euro fell to its lowest level against the dollar since November 2022 while sterling lost similar ground to an eight-month low on weak UK factory data.Oil prices jumped on hopes of rebounding demand.”January can be a testing time for markets and that’s already proved the case as investors fret about the impact of Donald Trump’s trade policies,” said Russ Mould, investment director at AJ Bell.”Technology and industrial stocks were among the areas worst hit, dragged down by weak Chinese manufacturing data and the fact Trump will be back in power in just over a fortnight. “Tariffs are expected to be at the top of the new president’s agenda and China is expected to be the biggest loser,” Mould added.The Hong Kong and Shanghai stock markets had set a negative tone earlier, slumping more than two percent by day end.Tokyo was closed.While the US Federal Reserve is seen cutting interest rates less than forecast this year, the European Central Bank is expected to keep reducing amid weakness for Europe’s biggest economy Germany.”Optimism about the strength of the mighty US economy remains buoyant for 2025,” Susannah Streeter, head of money and markets at Hargreaves Lansdown, said Thursday. “Already growth has kept outpacing forecasts as consumers and companies have shrugged off the impact of high interest rates.”Following a largely successful 2024 for equity markets, as inflation reduced further and investors scooped up technology stocks, sentiment soured towards the end of the year.Nevertheless, Wall Street’s Dow index ended the year up around 13 percent, while the S&P 500 and the Nasdaq — which have more tech stocks — climbed more than 23 percent and around 29 percent respectively on the artificial intelligence boom.Frankfurt’s DAX added almost 20 percent, as did Japan’s Nikkei. The FTSE 100 gained nearly six percent, but France’s CAC 40 was the outlier with a drop of 2.2 percent.- Key figures around 1650 GMT -New York – Dow: UP 0.2 percent at 42,617.28 pointsNew York – S&P 500: UP 0.4 percent at 5,902.14New York – Nasdaq Composite: UP 0.6 percent at 19,406.76London – FTSE 100: UP 1.0 percent at 8,260.09 (close)Paris – CAC 40: UP 0.2 percent at 7,393.76 (close)Frankfurt – DAX: UP 0.6 percent at 20,024.66 (close)Tokyo – Nikkei 225: closedHong Kong – Hang Seng Index: DOWN 2.2 percent at 19,623.32 (close)Shanghai – Composite: DOWN 2.7 percent at 3,262.56 (close)Euro/dollar: DOWN at $1.0247 from $1.0360 on TuesdayPound/dollar: DOWN at $1.2368 from $1.2520Dollar/yen: UP at 157.63 yen from 157.32 yenEuro/pound: UP at 82.87 at 82.74 penceBrent North Sea Crude: UP 2.4 percent at $76.40 per barrelWest Texas Intermediate: UP 2.6 percent at $73.58 per barrelburs-bcp/cw/jj

Wall Street made a positive start to the year Monday, shrugging off falls on Asian markets as investors await planned tariffs from US president-elect Donald Trump, adding to China’s economic struggles.Around half an hour into trading, the Dow and the tech-heavy Nasdaq Composite Index had added around three quarters of one percent, in 2025’s first session — though EV maker Tesla slipped after posting its first annual drop in electric vehicle deliveries.Tesla lost 6.9 percent in early trading after missing a company forecast, a sign of rising electric vehicle competition in China and other major markets.”The stock market ended 2024 with a whimper, but it is poised to begin 2025 with a bang,” Briefing.com’s Patrick O’Hare wrote in a note before markets opened on Wall Street. Main European indices were seeking direction some two hours out from the close, Frankfurt and London just in the green.The euro fell to its lowest level against the dollar since November 2022 while sterling lost similar ground to an eight-month low on weak UK factory data.Oil prices jumped on hopes of rebounding demand.”January can be a testing time for markets and that’s already proved the case as investors fret about the impact of Donald Trump’s trade policies,” said Russ Mould, investment director at AJ Bell.”Technology and industrial stocks were among the areas worst hit, dragged down by weak Chinese manufacturing data and the fact Trump will be back in power in just over a fortnight. “Tariffs are expected to be at the top of the new president’s agenda and China is expected to be the biggest loser,” Mould added.The Hong Kong and Shanghai stock markets had set a negative tone earlier, slumping more than two percent by their close.While the US Federal Reserve is seen cutting interest rates less than forecast this year, the European Central Bank is expected to keep reducing amid weakness for Europe’s biggest economy Germany.”Optimism about the strength of the mighty US economy remains buoyant for 2025,” Susannah Streeter, head of money and markets at Hargreaves Lansdown, said Thursday. “Already growth has kept outpacing forecasts as consumers and companies have shrugged off the impact of high interest rates.”Following a largely successful 2024 for equity markets as inflation reduced further and investors scooped up technology stocks, sentiment soured towards the end of the year.Nevertheless, Wall Street’s Dow index ended the year up around 13 percent, while the S&P 500 and the Nasdaq — which have more tech stocks — climbed more than 23 percent and around 29 percent respectively on the artificial intelligence boom.Frankfurt’s DAX added almost 20 percent, as did Japan’s Nikkei. The FTSE 100 gained nearly six percent, while France’s CAC 40 was the outlier with a drop of 2.2 percent.- Key figures around 1350 GMT -New York – Dow: UP 0.7 percent at 42,829.28 pointsNew York – S&P 500: UP 0.4percent at 5,907.00New York – Nasdaq Composite: UP 0.8 percent at 19,473.63London – FTSE 100: UP 0.7 percent at 8,237.08 points Paris – CAC 40: DOWN 0.3 percent at 7,389.83 Frankfurt – DAX: UP 0.1 percent at 19,926.09Tokyo – Nikkei 225: closedHong Kong – Hang Seng Index: DOWN 2.2 percent at 19,623.32 (close)Shanghai – Composite: DOWN 2.7 percent at 3,262.56 (close)Euro/dollar: DOWN at $1.0316 from $1.0360 on TuesdayPound/dollar: DOWN at $1.2401 from $1.2520Dollar/yen: DOWN at 156.72 yen from 157.32 yenEuro/pound: UP at 83.19 at 82.74 penceBrent North Sea Crude: UP 1.6 percent at $75.84 per barrelWest Texas Intermediate: UP 1.7 percent at $72.97 per barrelburs-bcp/cw/jj

Leading Chinese electric car maker BYD’s vehicle sales surged in 2024, the company said in a statement, as the firm grows its overseas presence.The EV and battery giant is the most prominent of Chinese automotive firms expanding abroad — plans that are increasingly threatened by thorny trade disputes between Beijing and the West.BYD sold 4,272,145 vehicles last year, up 41.3 percent from 2023’s 3,024,417 units, the company said Wednesday.In December alone, BYD sold 57,154 vehicles outside of China — a 58.3 percent jump from the same period in 2023But BYD still sold almost 90 percent of its cars in its home market in December 2024.The majority of the company’s 2024 sales were for plug-in hybrid models — 58 percent of total units sold.BYD — which adopts the English slogan “Build Your Dreams” — is the biggest EV manufacturer in China, the world’s largest automotive market.The company’s quarterly revenue surpassed global rival Tesla’s for the first time during the third quarter last year.The initial rapid sales growth of BYD and its industry peers in their home market was facilitated in part by generous subsidies from Beijing.The European Union has said that extensive state support has led to unfair competition, with an investigation by the bloc finding that Beijing’s subsidies were undercutting local competitors.The EU announced in October that it would levy extra tariffs of up to 35.3 percent on Chinese EVs, prompting Beijing to say it would “take all necessary measures” to protect firms’ interests. Earlier in 2024, the United States and Canada raised customs duties on Chinese EVs to 100 percent.BYD’s figures come after global EV sales hit a record 1.8 million units in November, according to industry research company Rho Motion.”This quarter has picked up significantly for EV sales globally as we see record-breaking month after record-breaking month,” Rho Motion expert Charles Lester said in a press release last month.”However, the regional picture is somewhat uneven with Europe shrinking three percent this year so far and once more China accounts for over two thirds of the electric vehicles sold in November.”

Major European and Asian stock markets began 2025 in the red as investors await planned tariffs from US president-elect Donald Trump, adding to China’s economic struggles.The dollar was up against the euro and pound but down versus the yen. Oil prices jumped on hopes of rebounding demand.“January can be a testing time for markets and that’s already proved the case as investors fret about the impact of Donald Trump’s trade policies,” noted Russ Mould, investment director at AJ Bell.”Technology and industrial stocks were among the areas worst hit, dragged down by weak Chinese manufacturing data and the fact Trump will be back in power in just over a fortnight. “Tariffs are expected to be at the top of the new president’s agenda and China is expected to be the biggest loser,” Mould added.The Hong Kong and Shanghai stock markets slumped more than two percent by their close Thursday.Nearing the half-way stage in Europe, Paris along with Madrid and Milan had shed around 1 percent.The euro fell to its lowest level against the dollar since November 2022. While the US Federal Reserve is seen cutting interest rates less than forecast this year, the European Central Bank is expected to keep reducing amid weakness for Europe’s biggest economy Germany.”Optimism about the strength of the mighty US economy remains buoyant for 2025,” Susannah Streeter, head of money and markets at Hargreaves Lansdown, said Thursday. “Already growth has kept outpacing forecasts as consumers and companies have shrugged off the impact of high interest rates.”Following a largely successful 2024 for equity markets as inflation reduced further and investors scooped up technology stocks, sentiment soured towards the end of the year. Still, Wall Street’s Dow index ended the year up around 13 percent, while the S&P 500 and the Nasdaq — which have more tech stocks — climbed more than 23 percent and around 29 percent respectively on the artificial intelligence boom.Frankfurt’s DAX added almost 20 percent, as did Japan’s Nikkei. The FTSE 100 gained nearly six percent, while France’s CAC 40 was the outlier with a drop of 2.2 percent.- Key figures around 1115 GMT -London – FTSE 100: FLAT at 8,172.25 points Paris – CAC 40: DOWN 1.2 percent at 7,294.11 Frankfurt – DAX: DOWN 0.3 percent at 19,854.45Tokyo – Nikkei 225: closedHong Kong – Hang Seng Index: DOWN 2.2 percent at 19,623.32 (close)Shanghai – Composite: DOWN 2.7 percent at 3,262.56 (close)Euro/dollar: DOWN at $1.0324 from $1.0360 on TuesdayPound/dollar: DOWN at $1.2451 from $1.2520Dollar/yen: DOWN at 157.09 yen from 157.32 yenEuro/pound: UP at 82.93 at 82.74 penceBrent North Sea Crude: UP 1.4 percent at $75.66 per barrelWest Texas Intermediate: UP 1.4 percent at $72.73 per barrelburs-bcp/ajb/gv

Asian stocks began 2025 mostly in the red on Thursday after worries about US interest rates, tariffs, and China’s economy gave Wall Street the holiday blues for a fourth straight session.Equities mostly had a bumper 2024 on the back of enthusiasm about artificial intelligence (AI), cuts in borrowing costs by central banks, and Donald Trump’s presidential election win.The Dow ended the year up around 13 percent, while the S&P 500 and the Nasdaq — which have more tech stocks — climbed over 23 percent and around 29 percent respectively.Germany’s DAX added almost 20 percent, as did Japan’s Nikkei. The FTSE 100 gained nearly six percent, and France’s CAC 40 was the outlier, falling 2.2 percent.Bitcoin exploded more than 120 percent to break $100,000 while fellow cryptocurrency Ethereum rose over 40 percent. Gold, coffee and cocoa set new records.”It was an exceptional year,” said Christopher Dembik, senior investment adviser at Pictet Asset Management.But ahead of the New Year’s Day holiday, US stocks sank Tuesday, although European equities advanced.The Dow Jones lost 0.1 percent, the S&P 500 declined 0.4 percent and the Nasdaq gave up 0.9 percent. On Thursday, shares in Hong Kong and Shanghai fell more than two percent. Tokyo remains closed until Monday.Shares in Sydney edged up, helped by US equity futures pointing higher.KOSPI ended largely unmoved with political uncertainty continuing to grip South Korea, as impeached President Yoon Suk Yeol remained defiantly inside his residence, resisting arrest for a third day.”The Republic of Korea is currently in danger due to internal and external forces threatening its sovereignty, and the activities of anti-state elements,” Yoon said in a statement.In Japan, Nippon Steel was not available for comment after it reportedly sent new proposals to the White House to try to save its takeover of US Steel.US Steel shares soared as much as 14 percent on Tuesday in New York after reports in the Washington Post and elsewhere. London, Paris and Frankfurt were up in early Thursday trade.- Key figures around 0830 GMT -Tokyo – Nikkei 225: closedHong Kong – Hang Seng Index: DOWN 2.2 percent at 19,623.32 (close)Shanghai – Composite: DOWN 2.7 percent at 3,262.56 (close)London – FTSE 100: UP 0.3 percent at 8,193.98Euro/dollar: DOWN at $1.0348 from $1.0360 on TuesdayPound/dollar: DOWN at $1.2493 from $1.2520Dollar/yen: DOWN at 156.58 yen from 157.32 yenEuro/pound: UP at 82.84 at 82.74 penceWest Texas Intermediate: UP 0.3 percent at $71.96 per barrelBrent North Sea Crude: UP 0.3 percent at $74.89 per barrelburs-stu/sco/sn

Asian stocks began 2025 mostly in the red on Thursday after worries about US interest rates, tariffs and China’s economy gave Wall Street the holiday blues for a fourth straight session.Equities mostly had a bumper 2024 on the back of enthusiasm about artificial intelligence (AI), cuts in borrowing costs by central banks and Donald Trump’s presidential election win.The Dow ended the year up by around 13 percent, while the S&P 500 and the Nasdaq, which have more tech stocks, climbed over 23 percent and around 29 percent respectively.Germany’s DAX added almost 20 percent, as did Japan’s Nikkei. The FTSE 100 gained nearly six percent, and France’s CAC 40 was the outlier, falling 2.2 percent.Bitcoin exploded more than 120 percent to break $100,000 while fellow cryptocurrency Ethereum rose over 40 percent. Gold, coffee and cocoa set new records.”It was an exceptional year,” said Christopher Dembik, senior investment adviser at Pictet Asset Management.But ahead of the New Year’s Day holiday, US stocks sank Tuesday, although European equities advanced.The Dow Jones lost 0.1 percent, the S&P 500 declined 0.4 percent and the Nasdaq gave up 0.9 percent. On Thursday, shares in Hong Kong and China fell. Tokyo remains closed until Monday.Shares in Australia and South Korea edged up, helped by US equity futures pointing higher.Political uncertainty continued to grip South Korea, with impeached President Yoon Suk Yeol resisting arrest for a third day.”The Republic of Korea is currently in danger due to internal and external forces threatening its sovereignty, and the activities of anti-state elements,” Yoon said in a statement.In Japan, Nippon Steel was not available for comment after it reportedly sent new proposals to the White House to try to save its takeover of US Steel.US Steel shares soared as much as 14 percent on Tuesday in New York after the reports in the Washington Post and elsewhere. – Key figures around 0300 GMT -Tokyo – Nikkei 225: closedHong Kong – Hang Seng Index: DOWN 1.76 percent at 19,707.60Shanghai – Composite: DOWN 0.78 PERCENT at 3,325.66Euro/dollar: UP at $1.0370 from $1.0360 on TuesdayPound/dollar: UP at $1.2531 from $1.2520Dollar/yen: DOWN at 157.27 yen from 157.32 yenEuro/pound: UP at 82.75 pence from 82.74 penceWest Texas Intermediate: UP 0.5 percent at $72.08 per barrelBrent North Sea Crude: UP 0.5 percent at $74.98 per barrelburs-stu/cwl

Despite political upheavals, stock markets and bitcoin smashed records in 2024, fuelled by investor enthusiasm for Artificial Intelligence (AI), falling interest rates, and hopes of tax cuts.Here are four of the most remarkable aspects of 2024 for financial markets:- Stock records fall like dominoes -Wall Street’s three main stock indices blew past record highs to set new peaks in 2024, with the Dow Jones Industrial Average climbing above 45,000 points, the S&P 500 above 6,000 and the Nasdaq Composite above 20,000.”It was an exceptional year, driven by the performance of tech shares thanks to artificial intelligence,” said Christopher Dembik, senior investment advisor at Pictet Asset Management.The Dow ended the year up by around 13 percent, while the S&P 500 and the Nasdaq, which have more tech stocks, notched annual gains of over 23 percent and around 29 percent respectively.Shares in Nvidia, which makes processors particularly adept at running AI models, including applications such as ChatGPT, rose more than 170 percent in 2024.”It’s now been about two years that ChatGPT was launched and it’s been two years that the AI buzz pushed some US Big Tech companies to the sky,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.”Nvidia, which has become the icon of the AI rally, gained almost 1,000 percent since then, the Magnificent Seven nearly 100 percent since last November,” she added.The Magnificent Seven are seven companies widely recognized for their technological and consumer impact: Alphabet (Google), Amazon, Apple, Meta (Facebook), Microsoft, Nvidia and Tesla. In Europe, records also fell, but the gains were less marked.Frankfurt’s DAX, driven by business software developer SAP (+70 percent) broke the 20,000-point level and finished the year with a gain of 18.9 percent.Tokyo’s Nikkei 225 index gained almost 20 percent in 2024, finally surpassing the high seen before Japan’s asset bubble burst in the 1990s.- A very political year -Donald Trump’s victory in the US presidential election gave Wall Street even more of a boost on hopes he will follow through on pledges of deregulation and tax cuts.”The market considered that will mean more growth and for longer,” said Pierre Bismuth, director at Myria Asset Management. Political developments did not always aid investors, however. Look at France: President Emmanuel Macron’s calling of early parliamentary elections backfired with no clear winner, and the Paris CAC 40, which had been up more than six percent ahead of the election, ended 2024 down more than two percent.Weakness in China further dragged down luxury stocks.In 2025, investors are keeping a wary eye to see if Donald Trump implements threatened tariff hikes, as well as the outcome of early elections in Germany in February.- Bitcoin, gold and commodities -Bitcoin rode expectations of deregulation under Trump to break the $100,000 level and rose more than 120 percent. Ethereum rose more than 40 percent, even if it did not set a new all-time record.Gold also set a new record as it benefitted from its safe-haven appeal during times of geopolitical tensions.Commodities such as coffee and cocoa set new records as poor weather caused supply concerns.- Monetary policy roller coaster -The central banks of the United States and some European countries finally began to cut interest rates they had hiked to tame an inflation spike triggered by the post-pandemic recovery and the Russian invasion of Ukraine.Switzerland got the ball rolling in March, followed by the European Central Bank in June and the Bank of England and the US Federal Reserve in September.Investors as well as central banks were anxious about the pace of interest rate cuts: not too fast to reignite inflation but not so slow that activity falls.Trading sometimes turned volatile as investors interpreted economic data through the prism of its impact on the Fed’s likelihood to cut rates.In August, investors took fright from disappointing US jobs figures, causing a nearly three-percent slump on Wall Street as they feared the economy might be on the brink of a recession.However, the US economy proved resilient and investors and the Fed have been paring back expectations of further rate cuts, especially as Trump’s tariffs could spark fresh inflationary pressures.Given stagnant growth in the eurozone, the ECB is expected to continue cutting rates.

Wall Street stocks slid Tuesday to close the year on a gloomy note but Europe’s main stock markets advanced, as all eyes turn to 2025 and the impact that the policies of US President-elect Donald Trump will have on the global economy.After dropping more than one percent on Monday as investors booked profits and broke hopes of a so-called “Santa Claus rally,” the Dow lost 0.1 percent to end 2024.”Sliding Treasury yields are helping in the repair work along with some rebound action in the mega-cap stocks and perhaps some New Year’s Eve spirit that is keeping the trading mood light,” said Briefing.com analyst Patrick O’Hare.Overall, Wall Street stocks still capped the year with double-digit gains, as falling global inflation triggered interest rate cuts from major central banks.That pushed global stock markets to record-high levels this year, as did a tech boom on rapid growth for the artificial intelligence (AI) sector.The Dow was up around 13 percent for the year, while the Nasdaq surged nearly 30 percent.The S&P 500, meanwhile, gained more than 23 percent in 2024.In Europe, London’s benchmark FTSE 100 index closed up 0.6 percent and the Paris CAC 40 rallied 0.9 percent in a shortened trading day.Over 2024, London gained nearly six percent.Paris fell 2.2 percent over the year, with the index hit late in the year by political turmoil in France, while China’s economic slowdown impacted the luxury sector.Frankfurt, whose last trading day was Monday, surged nearly 19 percent over the year despite Europe’s biggest economy Germany enduring a tough time.Traders closed out the year “amid uncertainty over monetary policy and the economic outlook under a Trump presidency,” Matt Britzman, senior equity analyst at Hargreaves Lansdown, noted Tuesday.Asian stock markets ended the year mainly in the red following a poor lead from Wall Street.Concerns about the slow pace of US interest rate cuts by the Federal Reserve and uncertainty about Trump’s tariff plans have soured the mood during recent sessions.”In Asia, notably China, tariffs may appear to be a manageable obstacle if they were the only concern,” said Stephen Innes at SPI Asset Management.”However, China’s economic difficulties go well beyond simple trade conflicts. The nation is also contending with serious domestic consumption challenges and self-induced setbacks in its technology sector,” Innes added.China’s Purchasing Managers’ Index (PMI) for manufacturing was 50.1 in December, signaling a third consecutive month of expansion, official data showed Tuesday.President Xi Jinping said China would put in place “more proactive” macroeconomic policies next year, according to state media, with economists warning that more direct fiscal stimulus aimed at shoring up domestic consumption was needed.The yuan on Tuesday reached its lowest level versus the dollar since October 2023.Tokyo’s Nikkei 225 index, which closed out the year Monday, gained almost 20 percent in 2024, finally surpassing the high seen before Japan’s asset bubble burst in the 1990s.- Key figures around 2115 GMT -New York – Dow: DOWN 0.1 percent at 42,544.22 points (close)New York – S&P 500: DOWN 0.4 percent at 5,881.63 (close)New York – Nasdaq Composite: DOWN 0.9 percent at 19,310.79 (close)London – FTSE 100: UP 0.6 percent at 8,173.02 (close)Paris – CAC 40: UP 0.9 percent at 7,380.74 (close)Frankfurt – DAX: closedTokyo – Nikkei 225: closedHong Kong – Hang Seng Index: UP 0.1 percent at 20,059.95 (close)Shanghai – Composite: DOWN 1.6 percent at 3,351.76 (close)Euro/dollar: DOWN at $1.0360 from $1.0401 on MondayPound/dollar: DOWN at $1.2520 from $1.2548Dollar/yen: UP at 157.32 yen from 156.41 yenEuro/pound: DOWN 82.74 pence from 82.93 penceWest Texas Intermediate: UP 1.0 percent at $71.72 per barrelBrent North Sea Crude: UP 0.9 percent at $74.64 per barrelburs-rl/jhb/bys/aha

Wall Street stocks moved higher on Tuesday, looking to ring out the year with gains as did Europe’s main stock markets, as all eyes turn to 2025 and the impact that the policies of US President-elect Donald Trump will have on the global economy.After dropping more than one percent on Monday as investors booked profits and broke hopes of a so-called Santa Claus rally, the Dow added 0.3 percent as trading got underway.”Sliding Treasury yields are helping in the repair work along with some rebound action in the mega-cap stocks and perhaps some New Year’s Eve spirit that is keeping the trading mood light,” said Briefing.com analyst Patrick O’Hare.At the closing bell Wall Street stocks are set to end 2024 with double-digit gains as falling global inflation triggered interest-rate cuts from major central banks.That pushed global stock markets to record-high levels this year, as did a tech boom on rapid growth for the artificial intelligence sector.In Europe, London’s benchmark FTSE 100 index closed up 0.6 percent and the Paris CAC 40 rallied 0.9 percent in a shortened trading day.Over 2024, London gained nearly six percent.Paris fell 2.2 percent over the year, with the index hit late in the year by political turmoil in France, while China’s economic slowdown impacted the luxury sector.Frankfurt, whose last trading day was Monday, surged nearly 19 percent over the year despite Europe’s biggest economy Germany enduring a tough time.Traders closed out the year “amid uncertainty over monetary policy and the economic outlook under a Trump presidency”, Matt Britzman, senior equity analyst at Hargreaves Lansdown, noted Tuesday.Asian stock markets ended the year mainly in the red following a poor lead from Wall Street.Concerns about the slow pace of US interest rate cuts by the Federal Reserve and uncertainty about Trump’s tariff plans have soured the mood during recent sessions.”In Asia, notably China, tariffs may appear to be a manageable obstacle if they were the only concern,” said Stephen Innes at SPI Asset Management.”However, China’s economic difficulties go well beyond simple trade conflicts. The nation is also contending with serious domestic consumption challenges and self-induced setbacks in its technology sector,” Innes added.China’s Purchasing Managers’ Index (PMI) for manufacturing was 50.1 in December, signalling a third consecutive month of expansion, official data showed on Tuesday.President Xi Jinping said China would put in place “more proactive” macroeconomic policies next year, according to state media, with economists warning that more direct fiscal stimulus aimed at shoring up domestic consumption was needed.The yuan on Tuesday reached the lowest level versus the dollar since October 2023.Tokyo’s Nikkei 225 index, which closed out the year Monday, gained almost 20 percent in 2024, finally surpassing the high seen before Japan’s asset bubble burst in the 1990s.- Key figures around 1430 GMT -New York – Dow: UP 0.3 percent at 42,691.09 pointsNew York – S&P 500: UP 0.3 percent at 5,922.77New York – Nasdaq Composite: UP 0.4 percent at 19,557.01London – FTSE 100: UP 0.6 percent at 8,173.02 (close)Paris – CAC 40: UP 0.9 percent at 7,380.74 (close)Frankfurt – DAX: closedTokyo – Nikkei 225: closedHong Kong – Hang Seng Index: UP 0.1 percent at 20,059.95 (close)Shanghai – Composite: DOWN 1.6 percent at 3,351.76 (close)Euro/dollar: DOWN at $1.0382 from $1.0401 on MondayPound/dollar: DOWN at $1.2527 from $1.2548Dollar/yen: UP at 156.97 yen from 156.41 yenEuro/pound: DOWN at 82.87 pence from 82.93 penceWest Texas Intermediate: UP 0.6 percent at $71.40 per barrelBrent North Sea Crude: UP 0.5 percent at $74.32 per barrelburs-rl/jhb