China announces export restrictions on key battery and mineral technologies, while South Korea grapples with political instability following an impeachment attempt. Asian markets show mixed reactions as US markets decline on the first trading day of 2025, with tech stocks leading the downturn.
China's commerce ministry plans to impose export restrictions on certain technology used to make battery components and for processing critical minerals like lithium and gallium, according to a notice issued on Thursday. South Korea 's corruption watchdog has moved to execute an arrest warrant for impeached President Yoon Suk Yeol, according to local media Yonhap News. Asian markets were set to open mixed Friday, as U.S.
stocks 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, according to local media Yonhap News. Yoon's short-lived martial law attempt on Dec. 3 has led to a political turmoil in the country. The three major U.S. indexes ended the first trading session of the new year lower, extending the weakness at the end of 2024, signaling the markets may not see a 'Santa Claus rally' this year.which spans the last five trading days of a year and the first two trading days of the following January. During this stretch of time, the S&P 500 has gained an averaged 1.3% while nearly 80% of the time finishing higher, Dow Jones Market Data going back to 1950 showed. That marked the fifth straight session in the red for the S&P 500 and Nasdaq, their longest losing streaks since April. Big tech stocks weighed down the market, with Apple falling 2.6%, and Tesla slumping 6% on lower annual deliveries
CHINA EXPORT TECHNOLOGY BATTERY MINERALS SOUTH KOREA POLITICS IMPEACHMENT MARKET US STOCKS
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