Local newspapers with the ruling Democratic Progressive Party’s (DPP) victory in the presidential election on the front pages remain on the counter at the reception of an office building in Taipei on January 14, 2024. (Photo by Yasuyoshi CHIBA / AFP) (Photo by YASUYOSHI CHIBA/AFP via Getty Images)
Yasuyoshi Chiba | Afp | Getty Images
Mainland China’s market pared losses from earlier in the session Monday, after the country’s central bank left its medium-term policy loans rate unchanged, while Taiwan stocks rose after voters handed the ruling Democratic Progressive Party a third-straight presidential term.
Mainland China’s CSI 300 index closed 0.1% lower at 3,280.91 after falling about 0.5% at open, while Hong Kong’s Hang Seng index fell 0.26%.
The People’s Bank of China surprised markets and held the rate on some 995 billion yuan ($138.84 billion) worth of one-year medium-term lending facility (MLF) loans, keeping it unchanged at 2.50%
The Taiwan Weighted index rose 0.19% to close at 17,546.82 after the ruling Democratic Progressive Party’s Lai Ching-te won the presidential election on Saturday, with more than 40% of the popular vote.
Investors will be closely watching China’s fourth-quarter gross domestic numbers due on Wednesday, while Japan will release inflation figures for December on Friday.
In Australia, the S&P/ASX 200 fell marginally, ending at 7,496.3.
Japan’s Nikkei 225 continued its record-breaking run and crossed the 36,000 mark briefly during the session, with the index closing 0.91% higher at 35,901.79, while the Topix also touched new highs, gaining 1.22% to finish at 2,524.6.
South Korea’s Kospi ended marginally above the flatline at 2,525.99, snapping its eight-day losing streak, while the small-cap Kosdaq fell nearly 1% and closed at 859.71.
U.S. stock and bond markets will be closed on Monday for Martin Luther King Day.
On Friday in the U.S., all three major indexes ended mixed as the fourth-quarter earnings season got under way, with four Big Banks posting downbeat results.
The Dow Jones Industrial Average lost 0.31%, but the S&P 500 ended the day 0.08% higher and the tech-heavy Nasdaq Composite closed just above the flatline, gaining 0.02%.
— CNBC’s Pia Singh and Alex Harring contributed to this report
Jessica Roberts is a seasoned business writer who deciphers the intricacies of the corporate world. With a focus on finance and entrepreneurship, she provides readers with valuable insights into market trends, startup innovations, and economic developments.
