New year nerves hit Asian stocks

Tokyo: Asia stocks mostly fell Monday in jittery holiday trade ahead of a potentially tumultuous 2025 when Donald Trump returns to the White House....

Tokyo: Asia stocks mostly fell Monday in jittery holiday trade ahead of a potentially tumultuous 2025 when Donald Trump returns to the White House.

With volumes thin, US and European equity futures were also pointing lower after losses on Friday that put paid to Wall Street's usual holiday period "Santa Claus rally".

Tech stocks had led the way, with Elon Musk's electric car giant Tesla shedding around five percent lower and AI chipmaker Nvidia off around two percent.

Weighing on sentiment were worries about slower-than-hoped US interest rate cuts and possible higher import tariffs once Trump is inaugurated on January 20.

"With US (bond) yields climbing and liquidity essentially non-existent, there's always the potential for outsized moves," said Stephen Innes at SPI Asset Management.