Asia Markets Dip, Japan Business Sentiment Improves
Most Asia-Pacific markets dipped in choppy trading, extending declines from the previous session. Japan's business sentiment improved for the first time since August, according to the Reuters Tankan survey. South Korean stocks retreated, while U.S. markets closed with their longest winning streaks in nearly two years. New Zealand's inflation expectations fell to a two-year low in the fourth quarter. Morgan Stanley highlighted the stocks that will benefit and lose out from the wellness trend. HSBC predicts a 15% rally in global equities if central banks ease monetary policy and the Federal Reserve manages a soft landing. Chicago Federal Reserve President Austan Goolsbee said a soft landing is still possible. U.S. crude prices fell to their lowest level since July due to weak economic data. Wolfe Research warns that the market rally may be fleeting.