Asian shares started the first trading day of the New Year on a steady footing on Tuesday, as investors returning after a holiday lull looked ahead to fresh trading catalysts from key economic releases later in the week.
Oil prices jumped 1% on Tuesday, starting the New Year higher as a Red Sea naval clash focused attention on potential Middle East supply disruptions and expectations of Chinese economic stimulus boosted the demand outlook in the world's top crude importer.
The dollar was steady on the first trading day of the year as traders weighed the prospect of steep interest rate cuts from the Federal Reserve in 2024 and looked to economic data this week for clues on the central bank's next moves.
Asian stocks took a breather on the last trading day of the year and are set to snap their two-year losing streak with investors buoyed by the expectations that the Federal Reserve will start cutting interest rates next year.
Thailand's private consumption and investment grew in November but exports increased less than in October leading to a current account deficit, the central bank said on Thursday.
Turkey's larger-than-expected minimum wage hike, which impacts some 7 million workers, is expected to push already elevated inflation even higher in the coming months, economists and sector officials said.