Asia-Pacific markets open lower after strong U.S. jobs report clouds Fed rate-cut path – CNBC

Credit CardsLoansBankingMortgagesInsuranceCredit MonitoringPersonal FinanceSmall BusinessTaxesHelp for Low Credit ScoresInvestingSELECTAll Credit CardsFind the Credit Card for YouBest Credit CardsBest Rewards Credit CardsBest Travel Credit CardsBest 0% APR Credit CardsBest Balance Transfer Credit CardsBest Cash Back Credit CardsBest Credit Card Welcome BonusesBest Credit Cards to Build CreditSELECTAll LoansFind the Best Personal Loan for YouBest Personal LoansBest Debt Consolidation LoansBest Loans to Refinance Credit Card DebtBest Loans with Fast FundingBest Small Personal LoansBest Large Personal LoansBest Personal Loans to Apply OnlineBest Student Loan RefinanceSELECTAll BankingFind the Savings Account for YouBest High Yield Savings AccountsBest Big Bank Savings AccountsBest Big Bank Checking AccountsBest No Fee Checking AccountsNo Overdraft Fee Checking AccountsBest Checking Account BonusesBest Money Market AccountsBest CDsBest Credit UnionsSELECTAll MortgagesBest MortgagesBest Mortgages for Small Down PaymentBest Mortgages for No Down PaymentBest Mortgages with No Origination FeeBest Mortgages for Average Credit ScoreAdjustable Rate MortgagesAffording a MortgageSELECTAll InsuranceBest Life InsuranceBest Homeowners InsuranceBest Renters InsuranceBest Car InsuranceTravel InsuranceSELECTAll Credit MonitoringBest Credit Monitoring ServicesBest Identity Theft ProtectionHow to Boost Your Credit ScoreCredit Repair ServicesSELECTAll Personal FinanceBest Budgeting AppsBest Expense Tracker AppsBest Money Transfer AppsBest Resale Apps and SitesBuy Now Pay Later (BNPL) AppsBest Debt ReliefSELECTAll Small BusinessBest Small Business Savings AccountsBest Small Business Checking AccountsBest Credit Cards for Small BusinessBest Small Business LoansBest Tax Software for Small BusinessSELECTAll TaxesFiling For FreeBest Tax SoftwareBest Tax Software for Small BusinessesTax RefundsTax BracketsTax TipsTax By StateTax Payment PlansSELECTAll Help for Low Credit ScoresBest Credit Cards for Bad CreditBest Personal Loans for Bad CreditBest Debt Consolidation Loans for Bad CreditPersonal Loans if You Don’t Have CreditBest Credit Cards for Building CreditPersonal Loans for 580 Credit Score or LowerPersonal Loans for 670 Credit Score or LowerBest Mortgages for Bad CreditBest Hardship LoansHow to Boost Your Credit ScoreSELECTAll InvestingBest IRA AccountsBest Roth IRA AccountsBest Investing AppsBest Free Stock Trading PlatformsBest Robo-AdvisorsIndex FundsMutual FundsETFsBondsThis is CNBC’s live blog covering Asia-Pacific markets.Asia-Pacific markets traded lower Monday, after U.S. jobs report on Friday dampened investors’ hopes for early interest rate cuts by the Federal Reserve.China’s exports and imports in December beat expectations by a significant margin. Exports rose 10.7% from a year earlier, beating Reuters’ expectations of a 7.3% year-on-year growth. The country’s imports in December unexpectedly rose 1%, compared with Reuters’ estimates of a 1.5% decline.Mainland China’s benchmark CSI 300, fell 0.27% to 3,722.51, extending losses after having closed at its lowest level since September 2024 on Friday.Investors in Asia will continue to keep an eye on Chinese bond yields after the country’s central bank suspended purchases of government bonds last Friday. China’s 10-year bond yield plunged to a record low this month.The country’s onshore yuan hit a 16-month low against the dollar last week, while the offshore yuan has been on a multi-month slide since last September.Hong Kong’s Hang Seng Index was down 0.73% as of its final hour of trade, falling below 19,000 for the first time since last September, data from LSEG showed.India is slated to report its inflation numbers later in the day. India’s Nifty 50 index lost 0.95% and the BSE Sensex was 0.80% lower.South Korea’s Kospi lost 1.04% to close at 2,489.56 while the Kosdaq dipped 1.35% to close the trading day at 708.21.Australia’s S&P/ASX 200 fell 1.23% to close at 8,191.9.Japan markets are closed for a holiday.Looking to the rest of this week, the Bank of Korea is expected to meet this Thursday, and Australia is slated to post its unemployment rate for December on the same day. China will be posting its GDP for the fourth quarter of 2024 on Friday, alongside retail sales and industrial output data.U.S. stocks dropped Friday after a hot jobs report.The Dow Jones Industrial Average lost 696.75 points, or 1.63%, to close at 41,938.45. The S&P 500 slid 1.54% to 5,827.04, while the Nasdaq Composite fell 1.63% to 19,161.63. Friday’s losses pushed the major benchmarks into the red for 2025.U.S. payrolls grew by 256,000 in December, while economists polled by Dow Jones expected to see an increase of 155,000. The unemployment rate, which was projected to remain at 4.2%, fell to 4.1% during the month. The yield on the 10-year Treasury note spiked to its highest level since late 2023 after the report.—CNBC’s Pia Singh and Sean Conlon contributed to this report.India’s rupee weakened to a record low against the U.S. dollar, hitting 86.58 against the greenback.The weakness came as traders look to India’s December inflation numbers later Monday, which are expected to soften for a second straight month.A softer inflation number could strengthen the case for a rate cut, but a looser monetary policy will further pressure the rupee. — Lim Hui JieShares of Japanese steelmaker Nippon Steel dipped slightly on Monday, as Prime Minister Shigeru Ishiba reportedly sought to calm tensions surrounding the company’s bid to take over U.S. Steel.Ishiba on a call with U.S. President Joe Biden asked to “allay concerns in the Japanese and U.S. business communities over the status of Nippon Steel’s planned acquisition of U.S. Steel,” Reuters reported.The Biden administration had delayed an order for Nippon Steel to abandon its bid for the U.S. firm, after blocking the takeover on Jan. 3 on national security grounds.Nippon Steel had doubled down on its pledge to buy the U.S. steelmaker after the Jan. 3 decision, teaming up with U.S. Steel to file lawsuits against the U.S. government over the move.— Lim Hui JieThe People’s Bank of China and other regulators pledged to enhance the management of the foreign exchange market and prevent any risk of “overshooting” of the yuan, the PBOC said in a statement.During a meeting held in Beijing, officials stressed that it was “necessary to unswervingly maintain the basic stability of the RMB exchange rate at a reasonable and balanced level,” according to the PBOC statement.The Chinese currency strengthened on Monday, with the onshore yuan trading at 7.331 against the dollar, while the offshore yuan was at 7.352.— Lee Ying ShanOil prices extended their rally after the U.S. Treasury Department announced broad sanctions targeting Russia’s energy sector.Global benchmark Brent rose 1.76% to trade at $81.16 a barrel, while the U.S. West Texas Intermediate futures advanced 1.89% to $78.02 per barrel.Goldman Sachs estimates that the vessels targeted by the sanctions amounted to 25% of Russia’s energy exports, with the majority being crude oil.However, the investment bank believes that the incoming Trump administration will want to avoid significant drops in Russian volumes given its ambition for lower energy prices in the U.S., analysts wrote in a note after.— Lee Ying ShanThe wildfires around Los Angeles are set to cost European insurance giants up to a billion euros in payouts this year.At least seven European listed reinsurance firms are expected to bear about a billion euros ($1.02 billion) of the losses over the wildfire, according to analysts at German investment bank Berenberg.In addition, JPMorgan analysts have identified at least 2 Japanese firms that are likely to be on the hook for payouts.CNBC Pro subscribers can read more here.— Ganesh RaoStocks fell on Friday, putting the three major indexes in the red for the week.The S&P 500 shed 1.54% to close at 5,827.04. The Nasdaq Composite lost 1.63% to end the session at 19,161.63. The Dow Jones Industrial Average lost 696.75 points, or 1.63%, to close at 41,938.45.— Pia SinghOil prices jumped on Friday after the U.S. Treasury Department announced sweeping sanctions against Russia’s oil industry.Brent gained $2.84, or 3.69%, to close at $79.76 per barrel, while U.S. crude oil advanced $2.65, or 3.58%, to settle at $76.57 per barrel. The benchmarks closed at their highest levels since Oct. 7.The sanctions target Russian oil companies Gazprom Neft and Surgutneftegas and their subsidiaries, more than 180 tankers, and more than a dozen Russian energy officials and executives. The sanctioned executives include Gazprom Neft CEO Aleksandr Valeryevich Dyukov.— Spencer KimballGot a confidential news tip? We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services.© 2025 CNBC LLC. 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Source: https://www.cnbc.com/2025/01/13/asia-markets-live-china-trade-data-india-cpi-china-bond-yields.html