Asian shares are trading cautiously on the last trading day of the year, mirroring weakness in the technology sector, which has dragged Wall Street lower for a third consecutive session. This hesitant trading reflects concerns about the sustainability of Wall Street’s rally, which was largely driven by the “Magnificent Seven” group of U.S. tech giants.
The subdued sentiment also highlights uncertainties heading into 2025, including challenges such as President-elect Donald Trump’s protectionist policies, the Federal Reserve’s outlook, and economic health concerns in China.
Market Snapshot:
- Shanghai Composite: Down 0.15%
- Hang Seng Index (HSI): Up 0.54%
- Shenzhen Component: Down 0.65%
- Kospi: Down 0.22%
- ASX 200: Down 0.73%
Amid these mixed movements, investors remain cautious about global economic policies and their impact on markets.
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