Asian Markets Struggle Amid Calls for Strong Policy Support

Investors Await Decisive Government Action as Tech and Auto Stocks Fall

• Chinese and Hong Kong indices are at crucial support levels, warranting a decisive move from the government, as investors call for strong policy support.
• Despite the National Passenger Car Information Exchange Association reporting that December 2023 passenger car sales increased +8.5% YoY, Mainland auto stocks were off.
• Technology stocks were off in both Hong Kong and Mainland China despite the Ministry of Industry and Industrial Technology announcing further support for China’s 5G, broadband, and optical networks.
• The Hang Seng and Hang Seng Tech indexes fell -0.57% and -0.76%, respectively, on volume that decreased -9.03% from yesterday.
• The Dow Jones Industrial Average fell 0.4% in Tuesday's stock market trading, the S&P 500 index dipped 0.15%, and the Nasdaq composite edged up 0.1%.

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