Asia Markets Poised for Growth as Wall Street Surges and China Data Takes Center Stage

Asia-Pacific markets are poised for gains as Wall Street continues to rally after the U.S. Federal Reserve's decision to hold rates and provide a roadmap for future cuts. Investors are focusing on key economic data from China, including house prices, industrial output, and retail sales. Australia's S&P/ASX 200 and Japan's Nikkei 225 rebounded, while South Korea's Kospi and Kosdaq advanced. In Australia, private sector activity contracted at a slower pace in December, according to flash estimates. A fund manager remains bullish on solar stocks, citing their long-term prospects. Goldman Sachs added several stocks to its top picks lists, and Deutsche Bank suggests rate cuts may come earlier than expected. Mega cap tech companies underperformed, while oil prices settled higher on a weaker dollar and an upgrade in demand growth. The 10-year Treasury yield dropped below 4% as traders bet on Fed rate cuts for 2024.