Newscasts - Asia Markets Briefing: Asia markets rise after Wall Street gains on tame inflation data

ASIANA AIRLINES

12/12/2024 09:20

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Source: 'Reuters - Business videos'

Description: Asia-Pacific markets were mostly higher today, following gains on
Wall Street that saw the Nasdaq surge to record highs after November’s
inflation report met expectations
Short Link: https://refini.tv/3ORkSZb

Video Transcript:

Asia markets rise after Wall Street gains on tame inflation data. Welcome to
Asia Markets Briefing. I’m Ludovica Brignola. Asia Pacific markets were
mostly higher today, following gains on Wall Street that saw the NASDAQ surge
to record-highs after November inflation report met expectations. Look at
South Korea and the KOSPI Index was up nearly 1% as investors assess the
political turmoil in the country. On Thursday, South Korean President Yoon Suk
Yeol said he had no intention to resign from office despite pressure from the
public and opposition parties, all that after his brief martial law
declaration last week. Let's take a look at some of the biggest movers today,
Nissan fell 1.6% today after it announced that its Chief Financial Officer,
Stephen Ma, will take over the company's China business at the start of 2025.
The carmaker is planning to cut thousands of jobs worldwide. And Honda fell a
0.4% on reports that it would end a self-driving vehicle partnership with
General Motors after the US automaker abandoned plans to enter the autonomous
robotaxi market. And let's stay in Japan as nearly 3/4 of Japanese companies
expect Donald Trump next term as US president to have a negative impact on
their business environment. They cite planned tariff-hikes, and US-China trade
tensions as causes of concern as a Reuters survey showed. Britain’s
financial regulator is taking longer than usual to approve a fast fashion
retailer Shein’s IPOs because it is a checking its supply chain oversight
and assessing legal risks, after an advocacy group for China’s WEGO
population challenged the listing, according to two sources close to the
matter. Korean Air said it has completed its protracted purchase of South
Korean rival, Asiana Airlines, making it one of the Asia's biggest carriers.
The KRW1.8 trillion deal is now also the longest ever merger to complete
between airlines. And finally, oil prices were little changed on Thursday as
forecast of weak demand and a higher-than-expected rise in US inventories
stemmed gains from an additional round of European Union sanctions that
threatened Russian oil flows. And that's it from your Asia Markets Briefing