Asia shares kick off 2024 on steady footing

Singapore, Jan. 2 (BNA): Asian shares started the first trading day of the New Year on a steady footing on Tuesday, as investors returning after a holiday lull looked ahead to fresh trading catalysts from key economic releases later in the week.


Risk appetite was strong after global shares ended 2023 with their biggest annual rise in four years, driven by the prospect that major central banks globally could begin easing rates this year in a major boost for consumers and businesses shackled by high borrowing costs, Reuters reported.


Also in a sign that the risk-on mood seen in December was extending into the new year, the world’s largest cryptocurrency bitcoin stormed above $45,000 on Tuesday for the first time since April 2022.


MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.6% and was on track to post its steepest drop in a month, giving back some of its gains, having risen 4.5% in December. Still, it stood not too far from a five-month-high hit last week.





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