China ends a three-year losing streak with an annual gain of 15%, while Taiwan leads the Asian markets with a 29% increase.

China ends a three-year losing streak with an annual gain of 15%, while Taiwan leads the Asian markets with a 29% increase.
China ends a three-year losing streak with an annual gain of 15%, while Taiwan leads the Asian markets with a 29% increase.
  • The CSI 300 index in Mainland China ends the year with a 15% increase, following three consecutive years of losses from 2023 to 2021.
  • In 2024, Aussie stocks experienced a 8.5% increase, marking their second consecutive year of growth.
  • The stock markets in Japan and South Korea were closed on New Year's Eve.

Despite China's manufacturing growth not meeting expectations, the CSI 300 index finished the year with a gain, ending a three-year losing streak in the Asia-Pacific markets.

In 2024, Hong Kong's stock market ended a shortened trading day marginally higher at 20,059.95, snapping a four-year losing streak with gains of nearly 18%.

The CSI 300 index in Mainland China fell 1.6% to end the day at 3,934.91, but achieved annual gains of approximately 15% despite losses in 2023, 2022, and 2021.

Beijing's stimulus measures were not enough to revive China's economy, as indicated by the December purchasing managers' index, which fell short of expectations.

Reuters polled analysts who forecast a 50.3 reading for PMI, the same as November's. A reading above 50 indicates expansion, while a figure below that level signals contraction.

The S&P/ASX 200 in Australia fell 0.92% to end at 8,159.1 on a shorter trading day. Despite this, it continued to increase for a second consecutive year, achieving an advance of 8.5% in 2024.

In 2024, Taiwan's Taiex experienced the highest annual gains among Asian markets, increasing by over 29%. However, on Tuesday, the index dropped by 0.67% to 23,035.10.

South Korea's consumer inflation accelerated in December, rising 1.9% year on year. CPI came in at 1.5% in November. On a month-on-month basis, prices rose 0.4% this month. Japan and South Korea's stock markets were closed for the New Year's Eve holiday.

In the U.S., stocks dropped overnight, signaling the end of a promising year for investors on a negative note.

Monday's decline of more than 700 points on the Dow was due to choppy trading throughout the day, with no apparent news catalyst.

The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all experienced losses, with the Dow losing 418.48 points, the S&P 500 falling 1.07%, and the Nasdaq Composite sliding 1.19%.

The report was contributed to by Vinay Dwivedi, Jesse Pound, and Samantha Subin of CNBC.

by Lee Ying Shan

Markets