Asian stocks rose as global markets entered a typically strong seasonal period, following gains in U.S. equities on Friday. The MSCI index of Asian shares advanced for a second day, with South Korea and Australia among the leading markets. Meanwhile, the euro weakened amid political tension in France, where far-right leader Marine Le Pen signaled her readiness to push for a no-confidence vote against the government over budgetary disputes.  

Chris Weston, head of research at Pepperstone in Melbourne, noted that reduced liquidity and potential year-end performance chasing by active managers could lead to volatility. "When combined with uncertainty around central bank policies, hopes for a quiet end to the year may be misplaced," he said.  

French Finance Minister Antoine Armand dismissed Le Pen’s demands for revisions to the 2025 budget by Monday, the deadline she set ahead of potential opposition-led no-confidence proceedings.  

Emerging market currencies like China’s yuan and South Africa’s rand could face turbulence after former U.S. President Donald Trump warned BRICS nations to commit against creating an alternative global trade currency. Trump threatened 100% tariffs on their goods if they failed to comply.  

Optimism around Trump’s recent Treasury secretary nominee had previously lifted U.S. stocks and bonds while weakening the dollar. U.S. equities gained 5.7% in November, marking their strongest month of the year, while the Bloomberg Dollar Spot Index fell over 1% last week, breaking an eight-week winning streak.  

In commodities, oil prices rose amid ongoing Middle East tensions.  Chinese economic data released over the weekend showed continued factory expansion in November, signaling a recovery since October's stimulus measures, including rate cuts.  

In Japan, Bank of Japan Governor Kazuo Ueda indicated that interest-rate hikes might be imminent, aligning with inflation and economic forecasts. His remarks strengthened the yen, which surged over 3% last week, fueled by expectations of a December rate hike following stronger-than-expected Tokyo inflation data.  

Commonwealth Bank of Australia strategists, led by Joseph Capurso, anticipate the market will further price in a 25-basis-point rate hike at the December BOJ meeting, supported by solid labor cash earnings data due later this week.  

Corporate news included reports of BlackRock Inc. nearing a $12 billion acquisition of HPS Investment Partners, potentially elevating its status in private credit. Additionally, Nissan Motor Co.’s CFO, Stephen Ma, is expected to step down, marking another executive shift amid the company’s restructuring efforts.

Paraphrasing text from "Bloomberg" all rights reserved by the original author.