New Zealand Shares Rise 0.5% Amid Utility Gains — Market Talk

Thailand equity markets' 1H outlook appears bullish, UOB Kay Hian analysts say in a research report. The brokerage remains optimistic about Thai equities in 1H owing to stable politics, robust GDP growth and policy rate cuts. UOB Kay Hian is overweight on seven sectors, including finance and industrial estate, which it expects to be the most bullish. The finance sector benefits from government policies as Thailand aims to tackle debt issues via a debt moratorium program, while the industrial-estate sector gains from inflows of foreign direct investment, the analysts say. The brokerage has a target of 1585 for the SET Index in 2025. The Thai benchmark index is down 0.2% at 1337.03. (ronnie.harui@wsj.com)

Employment confidence in New Zealand improved in the December 2024 quarter, but remained weak and close to its lowest levels since the 2020 pandemic, according to a report by Westpac published Wednesday.

The Westpac-McDermott Miller Employment Confidence Index rose to 91.6 in the December quarter, reversing the fall in the September quarter, when the index was at 89.2.

Despite the improvement, the reading is below the 100-point threshold, indicating that more New Zealanders are pessimistic about the state of the labor market than are optimistic.

The "current job opportunities" measure rose to negative 44 from negative 50.4, marking the first improvement in over two years.

The "expected job opportunities" sub-index rose to negative 20.7 from negative 24.9.

Westpac expects New Zealand's unemployment rate to rise above 5% this year. However, given its latest survey, Westpac said the official print may not reach much beyond the said forecast.

Chinese stocks fell on Wednesday as caution prevailed in the market ahead of key US inflation data.

The Shanghai Composite declined 0.2% to around 3,234, while the Shenzhen Component dropped 0.6% to 10,100, reversing some of the previous session’s gains.

Mainland stocks had rallied sharply on Tuesday after Chinese authorities intensified policy support to halt the market's decline.

The China Securities Regulatory Commission pledged to prioritize market stability in 2025, and the People's Bank of China promised to prevent risks associated with exchange rate fluctuations.

However, investors are still waiting for more concrete policy measures from Beijing, amid an ongoing economic slowdown and persistent deflationary pressures.

Notable losses were seen in major companies, including East Money (-1.6%), Lens Technology (-9.7%), Zijin Mining (-2.7%), Hithink Royalflush (-3.9%), and Shenzhen Megmeet (-3.8%).

The Hong Kong stock market rose 72 points or 0.4% to 19,298 in early trade on Wednesday, marking the second consecutive session of increases.

A modest gain in US futures bolstered sentiment, following lower-than-expected producer inflation in December, ahead of a CPI report later today.

South Korea's export price index, measured in Korean won, rose 10.7% year-on-year in December 2024, while the import price index also increased 7%, the Bank of Korea reported Wednesday.

On an on-month basis, both the export price index and the import price index increased 2.4%, the South Korean central bank said.

The net barter terms of trade index rose 4.8% on year during the month.

South Korea's export price index, measured in Korean won, rose 10.7% year-on-year in December 2024, while the import price index also increased 7%, the Bank of Korea reported Wednesday.

On an on-month basis, both the export price index and the import price index increased 2.4%, the South Korean central bank said.

The net barter terms of trade index rose 4.8% on year during the month.