Asian Stocks Vary as Bitcoin Rises Above $100 – Asia Market Wrap

Asian equities traded in a limited range, while the region’s currencies remained reasonably stable as traders pondered the effects of political storms in France and South Korea. Bitcoin surpassed $100,000.

The MSCI Asia Pacific index showed little change, with gains in Australia and Singapore balancing losses in Hong Kong and India. Korean stocks fell after the country’s ruling party sought to avoid President Yoon Suk Yeol’s impeachment by voting against a move to commence proceedings, which might take place on Saturday. Japanese stocks reversed their early advances.

Bitcoin extended a rise that began on Wednesday to reach $100,000 for the first time after Trump appointed a crypto proponent to lead the US Securities and Exchange Commission.

South Korea’s Won fell as policymakers urged financial markets to remain calm following the country’s surprise martial emergency declaration. The Euro encountered additional headwinds after France’s far-right leader Marine Le Pen and a left-wing alliance voted against PM Barnier’s cabinet, clouding the outlook for investors.

In commodities, oil recovered following a dip, with traders anticipating a OPEC+ meeting on Thursday. Gold fluctuated between gains and losses.