Singapore city skyline on September 18, 2016.
Roustam Azmi | Getty Images News | Getty Images
Australian stocks opened higher on Thursday as other Asian markets were expected to resume trading after the New Year holiday.
Australia S&P/ASX200 rose 0.17% at the opening. Japanese markets remained closed Thursday and Friday for public holidays.
Traders in Asia evaluated Singapore’s gross domestic product data. Based on preliminary estimates, the economy increased by 4.3% over one year in the fourth quarter of 2024, slower growth than the 5.4% growth of the previous quarter.
Preliminary GDP estimates are based primarily on data from the first two months of the quarter and are subject to revision when more data becomes available. according to the Ministry of Trade and Industry.
Annual economic growth in 2024 accelerated to 4%, compared to 1.1% in 2023, according to official data released on Thursday.
The Caixin/S&P Global China Manufacturing Purchasing Managers’ Index for December is available. Economists forecast manufacturing activity to come in at 51.7, slightly higher than November’s reading of 51.5, according to LSEG data.
The private investigation comes a day after Official December PMI fell short of expectationsarriving at 50.1.
U.S. stock futures were little changed as traders prepared for a new year, after all three major indexes posted double-digit annual gains in 2024.
Futures contracts linked to the Dow Jones Industrial Average were flat, while S&P 500 Futures Contracts gained 0.06%, Nasdaq 100 Futures advanced by 0.17%.
The S&P 500 posted an annual gain of more than 20% for a second straight year, jumping 23.31% last year, building on a 24.2% gain in 2023. The Dow Jones Industrial Average has gained 12.88% while the Nasdaq rose 28.64%.
—Christina Cheddar Berk of CNBC contributed to this report.
