Asian Stocks Rise on Strong US Economic Growth
Asian stocks rose at the open after Wall Street shares rallied to a record, driven by data showing the US economy grew at its fastest pace in two years. The MSCI’s regional stocks gauge extended gains into a fourth day, rising 0.2%, with benchmarks in Japan and South Korea advancing. Australian shares edged lower in a shortened trading session.
This comes after the S&P 500 rose for a fourth day, with a gauge of big tech climbing almost 1% amid low volume ahead of the Christmas holiday. Stock market news suggests that short-dated bonds underperformed, while the dollar fell.
Gold Prices Reach New Record High
Attention was on the commodities market with gold rallying to a new record of more than $4,500 an ounce. Gold prices have been amplified in the last week by Washington’s blockade of oil tankers linked to Venezuela. Silver also reached an all-time high, while copper prices topped $12,000 a ton for the first time.
The geopolitical tensions extended oil’s rally into a sixth straight session, with West Texas Intermediate crude trading above $58.50 a barrel. Oil prices are expected to remain volatile in the coming weeks.
Risk Appetite Remains Firm Heading into Year-End
Risk appetite has remained firm heading into year-end, with technology stocks in demand even as strong US growth data scaled back bets on near-term Federal Reserve easing. After earlier concerns over high valuations and the billions pouring into artificial intelligence, traders are regaining confidence that companies will deliver solid earnings growth in 2026.
“If consumers remain resilient through the holiday and the fourth quarter, it should bode well for US GDP and corporate earnings,” said Bret Kenwell at eToro. “Earnings have continued to surprise to the upside. Bulls are hoping to see this trend continue in 2026.”
Indian Investors and the Global Market
For Indian investors, the global market trends are crucial to understanding the potential impact on the Indian stock market. As the US economy grows, it can have a positive effect on the global economy, including India. However, the Indian stock market is also influenced by local factors, such as the performance of the rupee and the actions of the Reserve Bank of India.
Indian investors should keep a close eye on the Nifty trends and Sensex news to stay informed about the latest developments in the Indian stock market.
Corporate Highlights
Orsted A/S agreed to sell a majority stake in a Taiwanese wind farm to local firm Cathay as it presses ahead with plans to repair its balance sheet. Ken Griffin’s Citadel will return about $5 billion of profits earned this year, bringing its assets under management to $67 billion, according to a person familiar with the matter.
Novo Nordisk A/S won approval to sell a pill version of its blockbuster obesity shot Wegovy in the US, a crucial step in its effort to defend its market share from rival Eli Lilly & Co. Samsung Electronics Co.-owned Harman International is buying a key driver-assistance business from Germany’s ZF Group for €1.5 billion ($1.8 billion), as financial stress across Europe’s auto-supplier sector forces companies to rethink their portfolios.
Market Moves
S&P 500 futures were little changed as of 9:19 a.m. Tokyo time. Hang Seng futures rose 0.1%. Japan’s Topix was little changed. Australia’s S&P/ASX 200 fell 0.5%. The Bloomberg Dollar Spot Index was little changed. The euro was little changed at $1.1796.
The Japanese yen was little changed at 156.14 per dollar. The offshore yuan was little changed at 7.0176 per dollar. The Australian dollar was little changed at $0.6701. Bitcoin fell 0.4% to $87,296.42. Ether fell 0.5% to $2,957.15.
The yield on 10-year Treasuries was little changed at 4.15%. Japan’s 10-year yield declined one basis point to 2.020%. Australia’s 10-year yield was little changed at 4.76%. West Texas Intermediate crude rose 0.3% to $58.53 a barrel. Spot gold rose 0.6% to $4,510.29 an ounce.