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Japan stocks rise amid record budget hopes
Japan’s Nikkei 225 gained on optimism over a record 2025 budget, while oil prices rose on China’s stimulus measures. Holiday-thinned markets saw geopolitical tensions and commodity moves take center stage.
Tokyo shares climbed on reports of a record-high 2025 Japanese budget.
Oil prices rose above $70 on China’s fiscal stimulus and lower U.S. crude inventories.
Gold edged up, trading at $2,629, supported by geopolitical concerns.
Tokyo shares edged higher Thursday as Japan’s plans for a record fiscal 2025 budget buoyed investor sentiment. The Nikkei 225 climbed modestly after dipping in the prior session. Elsewhere in Asia, Chinese and South Korean markets remained muted, while Australia and Hong Kong were shut for holidays.
In commodities markets, WTI crude oil pushed above $70 per barrel on hopes that China’s fiscal stimulus will boost energy demand. Gold inched up, trading at $2,629 per ounce as geopolitical risks and thin holiday trading added to its allure. Reports have revealed that Chinese authorities have agreed to issue 3 trillion yuan worth of special treasury bonds next year, as Beijing boost fiscal stimulus to revive a struggling economy. This move could increase energy demand from the world’s largest importer.
Meanwhile, tensions in Europe escalated as Russia launched a large-scale missile attack on Ukraine's energy infrastructure, with Kyiv imposing power restrictions during Christmas. President Zelenskiy reported over 70 missiles and 100 drones were deployed in the assault, while Russia claimed to have intercepted 59 Ukrainian drones.
