China, US Extend Trade Truce Through January 10 After Trump-Xi Summit 
Asian Chip Stocks Tumble as OpenAI Safety Pause Sparks AI Growth Concerns 
U.S. Stock Futures Fall as Iran, Oil and AI Risks Rattle Markets 
Asian Currencies Mixed as Yen Weakens, RBA Hike Looms 
Nvidia China Chip Sales Report Sends Chinese Semiconductor Stocks Lower 
Gold Holds Near Seven-Week Low as Fed Rate Hike Bets Rise 
ECB May Stop Rate Hikes After December, Capital Economics Says 
XRP Price Targets $1.70 as Bullish Momentum Builds 
Asian Currencies Weaken as Dollar, Oil Prices Rise 
Gold Plunges 4% as Treasury Yields Surge and Fed Rate Hike Bets Rise 
Asian Stocks Fall as Bond Yields and Oil Prices Surge 
China Cuts Tariffs on U.S. Farm Goods but Excludes Soybeans 
Australia Budget Deficit Narrows to A$22.3 Billion on Stronger Tax Revenue 
South Korea Exports Set for 16th Monthly Gain on AI Chip Demand 
BlackRock’s Rick Rieder Favors Bonds Over Stocks as Treasury Yields Surge 
China Industrial Profit Growth Slows as Weak Demand Offsets AI Gains 
Oil Prices Jump Nearly 3% as Iran Holds Firm on Hormuz Conditions 
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Asian Stocks Surge, Dollar Hits 7-Week High
Asian stocks surged on Monday, with the dollar reaching a seven-week peak against the yen. The rally was sparked by robust U.S. labor data, easing recession fears and reducing expectations for rate cuts.
U.S. Treasury Yields & Job Growth
Short-term U.S. Treasury yields rose after U.S. non-farm payrolls data reported the highest job growth in six months. The strong labor market sent Dow futures slightly higher, pointing to continued gains.
Stock Market Highlights
- Japan’s Nikkei: Up 2%, supported by a weaker yen.
- Australia’s Benchmark: Rose 0.12%.
- South Korea’s Kospi: Increased by 0.29%.
- MSCI Asia-Pacific Index: Climbed 0.4%.
Crude Oil & Geopolitical Tensions
Oil prices dipped from recent highs, despite escalating tensions in the Middle East. Brent crude fell to $77.40 per barrel, and U.S. crude dropped to $73.85 per barrel.
Currency Market Movements
The U.S. dollar hit 149.10 yen, the highest since August, while the euro eased to $1.0971. Japan's top currency official pledged to monitor forex movements closely.
Federal Reserve & Interest Rates
Bets on a larger Federal Reserve rate cut in November faded, with traders now predicting a quarter-point reduction or no change, according to the CME FedWatch Tool.
Treasury Yields & Gold Prices
The two-year U.S. Treasury yield reached its highest in over a month at 3.9488%. Gold edged slightly lower to $2,649.29 an ounce.
