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Australia Stocks Open Higher as Asia Resumes Trading After Holiday

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ASIA PACIFIC,STOCK MARKET,AUSTRALIA

Australian stocks opened higher on Tuesday, tracking gains in other Asian markets resuming trading after the New Year's Day holiday. Traders in Asia are looking ahead to economic indicators including Singapore's fourth-quarter GDP and China's Caixin manufacturing PMI. In the US, stock futures were little changed as traders prepare for a fresh year following strong annual gains in all three major indices.

Australia stocks opened higher with other Asian markets set to resume trading after New Year's Day holiday.rose 0.17% at open, while Nikkei 225 Chicago futures were trading at 39,605, lower than the index's last close of 39,894.54Traders in Asia will also look toward Singapore's fourth-quarter gross domestic product. The GDP is forecast to have expanded 3.3% from a year ago, according to a Reuters poll.

The S&P 500 recorded an annual gain of over 20% for a second straight year, jumping 23.31%, building on a gain of 24.2% in 2023. The Dow Jones Industrial Average gained 12.88% last year while the Nasdaq was up by 28.64%.Nippon Steel offers U.S. government veto power in bid for U.S. Steel approval, source tells Reuters

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