Stock markets across the Asia-Pacific region traded mostly higher on Tuesday, 23 December 2025, taking their cue from a positive start to the week on Wall Street during what is anticipated to be a quiet, holiday-shortened period for global trading.
Regional Market Performance and Currency Moves
Gains were not uniform across the region. Australia's S&P/ASX 200 led the advance, jumping 1.1% to 8,795.70. South Korea's Kospi added 0.3% to 4,117.15, while Taiwan's Taiex advanced 0.6%. India's Sensex was nearly unchanged.
In contrast, Japan's Nikkei 225 slipped 0.1% to 50,359.78. This came as the dollar fell against the Japanese yen, trading at 156.03 yen down from 157.04, after Tokyo officials warned they would intervene if the yen weakened sharply. The euro also gained ground, climbing to $1.1777 from $1.1762.
Hong Kong's Hang Seng gave up early gains to dip 0.1% to 25,762.64, while the Shanghai Composite index edged 0.1% higher to 3,920.16.
Wall Street Sets the Tone Ahead of Key Data
The positive sentiment originated in New York, where major indices rose on Monday. The S&P 500 gained 0.6% to close at 6,878.49. The Dow Jones Industrial Average rose 0.5% to 48,362.68, and the Nasdaq composite picked up 0.5% to 23,428.83. Smaller company stocks outperformed, with the Russell 2000 index surging 1.2%.
These gains helped push major indexes further into positive territory for the month as a volatile December nears its conclusion. Technology shares, particularly those focused on artificial intelligence, have been the primary driver of recent market swings.
Notable individual movers included Uber and Lyft, which rose 2.5% and 2.7% respectively after announcing robotaxi service plans for London. In media, Paramount Skydance surged 4.3% after sweetening its bid for Warner Bros. Discovery, which itself rose 3.5%. Netflix shares fell 1.2%.
Commodities and the Week's Economic Calendar
In commodity markets, gold and silver prices touched record levels. Gold rose nearly 1% early Tuesday to $4,512.40 an ounce, buoyed by expectations of further interest rate cuts from the U.S. Federal Reserve. Silver rose 1.2%.
Oil prices, which jumped on Monday after the U.S. Coast Guard pursued a sanctioned tanker in the Caribbean, fell back slightly. U.S. benchmark crude shed 23 cents to $57.78 per barrel, while Brent crude, the international standard, declined 22 cents to $61.85.
The shortened U.S. trading week, with an early close on Wednesday for Christmas Eve and a full closure on Thursday, features several key economic reports. On Tuesday, the first estimate of third-quarter Gross Domestic Product (GDP) will be released, followed by weekly jobless claims data on Wednesday. The Conference Board's December consumer confidence survey is also due.
This data arrives against a backdrop of elevated U.S. inflation, fading consumer confidence, a slowing job market, and weakened retail sales. The ongoing U.S. trade war continues to pressure consumers and businesses. Despite inflation remaining stubbornly above the Fed's 2% target, Wall Street largely expects the central bank to hold interest rates steady at its January meeting, following cuts at its last three gatherings.
