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Manila Bulletin devider Business devider The Stock Market devider Shares higher in Asia in upbeat start to new year

Shares higher in Asia in upbeat start to new year

Published Jan 2, 2026 01:07 pm
Dancers in a bull-shaped costume perform to celebrate the opening of the Korea Exchange in Seoul, South Korea, Friday, Jan. 2, 2026. (AP photo)
Dancers in a bull-shaped costume perform to celebrate the opening of the Korea Exchange in Seoul, South Korea, Friday, Jan. 2, 2026. (AP photo)
BANGKOK — Asian markets began the new year Friday, Jan. 2, with gains, while United States (US) futures and oil prices also advanced.
Hong Kong’s Hang Seng jumped 2.2 percent to 26,189.79 on a strong rally in tech shares.
E-commerce giant Alibaba climbed 3.2 percent and search engine and technology company Baidu jumped 7.5 percent after it said it plans to spin off its artificial intelligence computer chip unit Kunlunxin, which would list shares in Hong Kong early 2027. The plan is subject to regulatory approvals.
Markets were still closed in Tokyo, Shanghai, Thailand and New Zealand.
South Korea’s Kospi picked up 1.5 percent to 4,277.94, while the S&P/ASX 200 in Australia edged 0.2 percent higher, to 8,727.30.
Taiwan’s Taiex was up 1.1 percent and the Sensex in India added 0.1 percent.
Asian shares have been supported by expectations that growth in the use of artificial intelligence will spur demand for computer chips and other items needed to build out data centers and other infrastructure.
Recent manufacturing data for much of the region has been relatively weak, though trade has remained resilient.
“Exports from most countries have surged in recent months, and we think the near-term outlook for Asia’s export-oriented manufacturing sectors remains favorable,” Shivaan Tandon of Capital Economics said in a report.
The future for the S&P 500 was up 0.5 percent while that for the Dow Jones Industrial Average added 0.3 percent.
On Wednesday, US stocks finished 2025 with a fourth day of losses, despite strong gains for the year.
The S&P 500 gave up 0.7 percent to 6,845.50 and the Dow fell 0.6 percent to 48,063.29. The Nasdaq composite closed 0.8 percent lower at 23,241.99.
The S&P 500 set 39 record highs in 2025 and closed 16.4 percent higher for the year. The Nasdaq gained 20.4 percent and the Dow finished 13 percent higher.
Wall Street’s 2025 gains came as investors embraced the optimism surrounding artificial intelligence and its potential for boosting profits across almost all sectors. But the market had no shortage of turbulence along the way amid
President Donald Trump eventually put his on-again, off-again tariffs on imported goods worldwide on pause while negotiating trade deals, helping to calm frayed nerves.
Strong corporate profits and three cuts to interest rates by the Federal Reserve also helped drive markets higher.
Wall Street is betting that the Fed will hold interest rates steady at its next meeting in January.
The Labor Department reported that fewer Americans applied for unemployment benefits last week with layoffs remaining low despite a weakening labor market.
All of the sectors in the S&P 500 closed in the red Wednesday, with technology stocks the biggest drag on the market. Western Digital fell 2.2 percent and Micron Technology lost 2.5 percent. Both were among the biggest gainers in the S&P 500 this year.
In other dealings early Friday, silver gained 3.5 percent after giving back 9.4% on Wednesday. It gained more than 140 percent in 2025.
Gold picked up 1.1 percent. It closed out the year with a 63.7 percent gain.
US benchmark crude gained 35 cents to $57.77 per barrel. The price of Brent crude, the international standard, was up 35 cents at $61.20 per barrel.
The US dollar rose to 156.80 Japanese yen from 156.75 yen. The euro climbed to $1.1760 from $1.1746.
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