Asian markets are set to resume trading after the New Year holiday.

Australian shares opened higher on Thursday as other Asian markets prepared to resume trading after the New Year holiday.

Australia Standard & Poor’s/ASX 200 It rose 0.17% at the open. Markets in Japan remained closed on Thursday and Friday for the bank holiday.

Traders in Asia evaluated Singapore’s GDP data. Based on prior estimates and economics It expanded by 4.3% year-on-year In the fourth quarter of 2024, which is slower than the 5.4% growth in the previous quarter.

Advance GDP estimates are compiled based on data in the first two months of the quarter and are subject to revision as more data becomes available. According to the Ministry of Trade and Industry.

Annual economic growth accelerated in 2024 to 4%, compared to 1.1% in 2023, according to official data on Thursday.

China’s December Caixin/S&P global manufacturing PMI is awaited. Economists expect manufacturing activity to reach 51.7, slightly higher than 51.5 in November, according to LSEG data.

The private poll comes one day after The official December PMI missed expectationscomes in at 50.1.

US stock futures were little changed as traders prepared for a new year, after all three major indexes posted double-digit annual gains in 2024.

Futures contracts are linked to the Dow Jones Industrial Average It was flat, while S&P 500 futures increased by 0.06% Nasdaq 100 futures Advanced 0.17%

The S&P 500 posted annual gains of more than 20% for the second year in a row, jumping 23.31% last year, building on a 24.2% gain in 2023. The Dow Jones Industrial Average rose 12.88% while the Nasdaq rose 28.64%.

CNBC’s Christina Scheider-Burke contributed to this report.