On Tuesday, December 24th, Asian stocks rose mildly amid low holiday trading volumes, following a rise in the stock prices of some of the world's largest technology companies, which boosted the US benchmark stock index.

The stock markets in mainland China and Hong Kong rose, while the Japanese stock market saw a slight decline. Taiwan Semiconductor's stock price set a new record, and Honda Motor and Toyota announced a significant rise after their buyback plans. US Equity Index futures saw little change in Asian trading, despite the rise of the "seven technology giants" on Wall Street. #MarketUpdateAsia#

On Wall Street, the S&P 500 Index increased by 0.7%, the NASDAQ 100 Index rose by 1%, and Chinese stock indices listed in the USA gained 0.9%.

The S&P 500 Index is expected to achieve outstanding annual returns, rising more than 20% for two consecutive years. Since the end of 2023, the index has risen by about 25%, with the price increases of the seven technology giants accounting for more than half of the total gains.

Ecaterina Bigos, Chief Investment Officer of Core Investments for AXA Investment Managers Asia Ltd., stated on Bloomberg Television that "the rebound for 2024 will focus on the technology sector, and this trend is expected to continue into 2025. We will look for profit expansion and a less concentrated upward movement in 2025."

The MSCI Asia stock benchmark is still expected to face its first quarterly loss since September 2023, falling by 6.9%, even as the S&P 500 Index rose by 3.7%. Recent market sentiment in Asia has deteriorated due to concerns over potential global tariffs after Trump's election, a strengthening USD, and a sluggish recovery in the Chinese economy.

On Tuesday, the 10-year US Treasury yield fell by one basis point, while the Bloomberg Dollar Index rose slightly. The yen rebounded after Japan's Finance Minister Katsunobu Kato warned against excessive Forex volatility.

Katsunobu Kato warned on Tuesday that Japan would take action if the yen's exchange rate experienced excessive volatility. He expressed to reporters, "I am deeply concerned about the recent exchange rate trends, including moves driven by speculators. The government will take appropriate measures against excessive Forex fluctuations." He reiterated the warnings made last week.

After Katsunobu Kato's remarks, the yen strengthened against the dollar, hitting 157.06 yen per dollar at one point, compared to 157.39 yen per dollar before his speech.

Nissan's stock price in Tokyo fell by as much as 7.3% after the company confirmed that it is in talks with Honda Motor about a potential business integration. Honda's stock price rose by as much as 14% after the company announced it would buy back up to 1.1 trillion yen (approximately 7 billion USD) in stocks.

Taiwan Semiconductor's stock price increased by up to 1.4%, briefly surpassing the peak on November 8, due to strong performance from U.S. chip stocks, including major client NVIDIA. This year, Taiwan Semiconductor's stock has risen by 83%, benefiting from investors' enthusiasm for AI investment.

South Korea's data shows that consumer confidence fell significantly this month, marking the largest drop since the outbreak of the COVID-19 pandemic, impacted by the political turmoil caused by President Yoon Suk-yeol's announcement of martial law and impeachment.

The Reserve Bank of Australia stated in its December meeting minutes that it is increasingly confident that inflation is continuing to move towards the target level, but due to the resurgence of consumer spending and a still-tight labor market, it cannot yet be asserted that the battle against inflation has been won.

In terms of commodities, oil rose slightly amid low trading volume before the holidays, after experiencing three days of selling pressure, with the market focusing on the strengthening of the USD and the turmoil in international politics following President Trump's election. Gold saw a slight increase.