Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
In December 2024, China's Caixin Manufacturing Purchasing Managers' Index (PMI) stood at 50.5. This means that the manufacturing sector is still growing for the third month in a row, but the growth is slower than expected. Analysts had predicted a reading of 51.7, dropping from November's figure of 51.5.
The PMI above 50 indicates that manufacturing is expanding but at a slower rate than the previous month. Production has increased for 14 months in succession, though the speed of increase has slowed. New orders have increased, mainly because of demand within China, but orders for exports have declined after a strong month in November.
Employment in manufacturing continued to drop for the fourth consecutive month but at a slower pace. This implies that businesses are not getting out of their woes about keeping a steady workforce.
There has been more buying activity, and the stocks of raw materials have increased as the manufacturers are re-stocking to hedge against the probable changes in demand. Inventories of post-production have also registered an increase for the seventh month in succession; however, growth in this inventory is slowing down because of lessened production growth.
Overall, December's performance reflects that the manufacturing sector is growing, but its growth is less than expected. This is somehow a cause for concern about how effective recent stimulus efforts are at boosting China's economy.
