Asian shares struggled for direction on the last trading day of 2024, on course for their first quarterly loss this year after a weak showing on Wall Street.
Equities fell in Australia and mainland China, with those in Hong Kong flat. US futures were steady, following declines for both the S&P 500 and the Nasdaq 100 overnight.
A gauge of regional stocks looks poised to finish the fourth quarter in the red, snapping a four-quarter winning streak.
Despite the latest weakness, it remains on track to gain for a second consecutive year.
The cautious tone Tuesday partly reflects lingering concerns about the stamina of Wall Street’s rally this year that was predominantly driven by the so-called Magnificent Seven cohort of US tech giants.
It’s also an indication of uncertainties facing investors in 2025, ranging from President-elect Donald Trump’s protectionist policies to the Federal Reserve’s outlook and the health of China’s economy.
