Asia markets mostly rise after Wall Street’s mixed moves that saw investors rotate out of tech stocks – CNBC

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This is its largest one-day gain since Nov. 7.Japan’s markets were the only outlier, with the Nikkei 225 dipping 1.83% to close at 38,474.30. The Topix fell 1.16% to 2,682.58. Both indexes extended their four-day losing streak. Japan’s 40-year government bond yield rose to an intraday high of 2.774, its highest on record since 2007, LSEG data showed.South Korea’s Kospi closed up 0.31% to 2,497.40 while the small-cap Kosdaq added 1.39% to end the day at 718.04.Australia’s S&P/ASX 200 closed 0.48% higher at 8,231, breaking a three-day losing streak.Investors will continue monitoring India’s rupee after it weakened to a record low against the U.S. dollar. India on Monday reported inflation data for December, which declined for a second straight month year on year, coming in just below expectations at 5.22% and boosting the case for prospective interest rate cuts.Thailand will be releasing its consumer confidence index for December.Overnight in the U.S., the Dow Jones Industrial Average climbed, outperforming the market, while the Nasdaq Composite slipped as traders continued to sell off major tech stocks that have powered the bull market.The 30-stock Dow rose 358.67 points, or 0.86%, to close at 42,297.12 as investors rotated into nontech shares such as Caterpillar, JPMorgan and UnitedHealth. Meanwhile, the tech-heavy Nasdaq dropped 0.38% to 19,088.10. The S&P 500 inched up 0.16%, ending at 5,836.22.All three benchmarks have declines for the past two weeks, with tech shares causing most of the damage.—CNBC’s Hakyung Kim and Brian Evans contributed to this report.Japanese steelmaker Nippon Steel said it would do “whatever it takes” to close its deal with U.S. Steel, Reuters reported, as another steelmaker — Cleveland Cliffs — mulls bidding for U.S. Steel.The bid would be “in the high $30s” per share, compared to Nippon Steel’s price of $55, sources told CNBC.Nippon shares fell 0.95%.Earlier this month, U.S. President Joe Biden blocked Nippon Steel’s $14.9 billion bid for U.S. Steel on national security grounds, prompting the two companies to file a lawsuit against the U.S. government.— Lim Hui Jie, Spencer Kimball, ReutersThe Bank of Japan will debate whether to raise interest rates at its policy meeting next week based on its new quarterly growth and inflation forecasts, Deputy Governor Ryozo Himino said on Tuesday.In a speech to business leaders in the city of Yokohama, Himino said various surveys and reports from the central bank’s regional branches had heightened hopes that wage growth would remain strong this year.— ReutersThe yield on Japan’s benchmark 10-year government bond rose to 1.239, its highest since April 2011, data from LSEG showed.Similarly, Japan’s 40-year government bond yield rose to 2.755, its highest on record since 2007. The move comes amid a global selloff in government bonds.The Japanese yen strengthened for a fourth straight day, currently trading at 157.45 against the greenback.— Lee Ying ShanTech stocks continued to reign supreme among investors in 2024 with many investors favoring some of the so-called Magnificent Seven stocks of Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia and Tesla, as well as other lesser-known small- and medium-sized companies.Principal Asset Management’s Martin Frandsen continues to see potential in the Magnificent Seven this year, but also sees value in other stocks within the sector.Elsewhere, Michele Schneider, chief market strategist at Marketgauge.com sees opportunities in a range of high-growth sectors that are “poised to offer substantial returns for strategic reallocations of undervalued assets.”She also revealed three tech stocks she’s betting on right now.CNBC Pro subscribers can read more here.— Amala BalakrishnerThe S&P 500 and Dow Jones Industrial Average ended Monday’s session in the green.The broad market index added 0.16%, while the Dow rose 0.86%.The tech-heavy Nasdaq Composite underperformed the market and closed 0.38% lower.— Hakyung KimEnergy has emerged as the top-performing sector month to date in what has been a rocky start for the market.The sector has gained 5% as oil prices spiked following the U.S.’ broadening of sanctions on Russian oil on Jan. 8.Meanwhile, real estate and information technology are down 2.8% each in January, making them tied for the biggest underperformers in the S&P 500.— Hakyung KimGot a confidential news tip? 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Source: https://www.cnbc.com/2025/01/14/asia-markets-live-india-rupee-japan-current-account-balance.html