In recent political developments, Syrian President Bashar Al-Assad has reportedly fled to Russia, marking the collapse of the Assad regime after 50 years of rule. Similarly, South Korean President Yoon Seok Yeol survived an impeachment vote, with the ruling People’s Power Party boycotting the vote. The Kospi in South Korea experienced a 2.7% decline, while the S&P 500 and Nasdaq Composite in the U.S. reached new records following positive November jobs data.
Additionally, China’s consumer inflation rate dropped to a five-month low in November, falling short of expectations. Looking ahead to 2025, Chinese EV markets are expected to benefit, as traditional foreign automakers exited the market in 2024, allowing local electric car companies to establish themselves.
The recent political turmoil in Syria, South Korea, and France, with the collapse of the government after a no-confidence vote, raises uncertainty for markets. However, U.S. economic data suggests a potential rise in markets, with expectations of a rate cut by the Federal Reserve next week. Despite these positive economic indicators, challenges such as the incoming administration of President-elect Donald Trump loom over the horizon as 2024 comes to a close.
Overall, the political events of the past few weeks have set the stage for potential market fluctuations heading into 2025, with investors closely watching for further developments and their impact on global markets.
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