Asia-Pacific Stocks End 2024 on a High Note, But South Korea Lags Behind

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ASIAN STOCKS,ECONOMIC OUTLOOK,TECH INVESTMENTS

Most Asia-Pacific markets closed the year in positive territory, fueled by easing monetary policy and a surge in tech stocks. South Korea, however, was the only major market to decline, hampered by economic uncertainties and political instability.

Asia-Pacific stocks had a good run in 2024, with most major markets ending the year in positive territory. The region's central banks eased monetary policy while an AI boom lifted tech stocks. Mike Shiao, chief investment officer for Asia ex-Japan at investment management firm Invesco, said, 'With the Federal Reserve now having started its easing cycle, Asian countries will have more room to lower interest rates in 2025.' An easier monetary policy tends to boost equities.

After this year's strong surge, demand for AI-enabled mobile phones, PCs, and other consumer electronics could increase in 2025, according to an outlook note by DBS Bank. DBS noted that the global semiconductor sector typically experiences an expansion cycle lasting around 30 months. The current cycle, which began in September 2023, has the potential to extend through the end of 2025. While tech stocks helped lift Taiwan, they couldn't save South Korea, which was the only major Asian market to end the year in negative territory. The country's 'Corporate Value-up program' appears to have failed to boost stocks, with tariff fears and major economies, particularly the U.S. and China, will greatly impact South Korea's exports-driven economy. Paul Kim, head of equities at Eastspring Investments, said in the firm's 2025 outlook, 'Major exporters such as information technology hardware and auto players may face challenges.' The impeachment of president Yoon Suk Yeol will undoubtedly weigh on investors' minds, with Lorraine Tan, director of equity research for Asia at Morningstar telling CNBC earlier this year that 'the longer the leadership change takes, the more likely investors will be sidelined.

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