Asian markets opened higher on Friday, defying the downward trend in Wall Street, which saw its first trading session of 2025 end lower. The uptick in Asia was driven by optimism surrounding potential interest rate cuts in China and positive news from South Korea's tech sector. However, political uncertainty in South Korea persists as the corruption watchdog seeks to arrest the impeached president.
The People's Bank of China is reportedly planning interest rate cuts "at an appropriate time" this year, the Financial Times reported citing comments from the central bank. The country's 7-day reverse repo rate is currently set at 1.5%.
Asia-Pacific markets opened higher Friday, breaking ranks with Wall Street peers that ended lower on the first trading session of 2025, weighed down by tech stocks. Investors in Asia will continue to assess the political uncertainty in South Korea as the country's corruption watchdog seeks to execute an arrest warrant for impeached President Yoon Suk Yeol,was up 1.64% and the small-cap Kosdaq rose 1.65%. SK Hynix saw its shares surge 4.32%, a day after the chipmaker said it wouldJapan markets remain closed for a holiday.
ASIA CHINA INTEREST RATES SOUTH KOREA TECHNOLOGY
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