Australian stocks begin the day on an upward trend, following the resumption of trading in Asian markets after the New Year's Day holiday.

• Australian stocks began the day on an upward trend, following the lead of other Asian markets that will resume trading following the New Year's Day holiday.

Australian stocks began the day on an upward trend, following the lead of other Asian markets that will resume trading following the New Year's Day holiday.

The S&P/ASX 200 in Australia increased by 0.17% at the start of trading, while the Nikkei 225 futures in Chicago were trading at 39,605, which is below the index's previous closing price of 39,894.54.

Traders in Asia will also focus on Singapore's projected 3.3% GDP growth in the fourth quarter, as forecasted by a Reuters poll.

The Caixin manufacturing PMI for December is another economic indicator that economists are closely watching. They expect manufacturing activity to come in at 51.7, slightly higher than the 51.5 recorded in November, according to LSEG data.

Markets in Japan remained closed on Thursday and Friday for Bank holiday.

Traders prepared for the new year as U.S. stock futures remained unchanged, with all three major indexes achieving double-digit annual growth.

were flat, while gained 0.06%, advanced 0.17%.

For the second consecutive year, the S&P 500 experienced an annual increase of over 20%, with a gain of 23.31% in 2023, following a 24.2% increase in 2023. The Dow Jones Industrial Average recorded a 12.88% gain last year, while the Nasdaq experienced a 28.64% increase.

—CNBC's Christina Cheddar Berk contributed to this report.