— This is the script of CNBC's news report for China's CCTV on January 2, Thursday.
Welcome to CNBC's Business Daily. And what a year it was for Wall Street, with stocks ending 2013 at record levels. The Dow closed at a fresh high for the 52nd time.... while the S&P 500 gained 30%, making that its best year since 1997 So how will US markets kick off trade in the new year? CNBC's Seema Mody has more.
Wall Street kicks off 20-14 with high hopes. Stocks set record after record last year. Most analysts think stocks will rise again this year .. But maybe not quite as fast .. Or strong.
Some key information on the economy is due today. New claims for jobless benefits last week are expected to fall. Construction spending for November may rise a little faster than the month before.And a reading on manufacturing .. Could show a pick-up in December.
Keep an eye on shares of healthcare companies .. Everyone from hospitals to drug-makers. Because as of today .. The affordable health care act exchange is officially up and running. With the addition of 50-million new customers .. Many health care businesses should make a lot more money.
And employees of American Airlines will vote Friday on the companies new logo. Workers will get to choose between the stylized eagle that american has had for years. Or they can select the red .. White and blue horizontal bars that replaced the bird.
Over here in Asia, China was one of the worst performing markets last year ... While most indices in the region made gains, led by Japan.
So what will 2014 mean for Asian Equity plays? Here's what the experts had to say.
TAI HUI, Chief Market Strategist, Asia, J.P. Morgan Funds: Valuation wise i think for most of the Asian markets, they do look attractive especially in north east Asia . putting those 3 altogether. markets like Taiwan, Korea, part of Hong Kong, part of china. those to me looking quite attractive.
STEPHEN SHEUNG, Head of Investment Strategy, SHK Private: We believe that it's going to be another year where equities will be outperforming fixed income as a whole. Within that we like china and japan as the key calls. believe that these two markets will offer better risk adjusted returns to investors than U.S.. and Europe.
MICHAEL NA, Korea Strategist, Nomura: We are actually positive on Kospi for 2014, our year-end target is 2350.
Meantime, gold was a battered asset in 2013, ending the year down 28%. But analysts see the precious metal declining even further...
DOMINIC SCHNIDER, Head of Nontraditional Asset Classes, UBS Wealth Management: Things likely to continue on the soft side in 2014, also applies on the gold side. we do target 1,050, so prices will fall further for investors who hold gold, it's going to be an awful year again. Clearly stay away from the miners. I think margin's going to come under pressure and things do not look pretty. I know they even lost more than gold itself. If you really want to have gold as last resort.Pphysical way holding gold is the way.
Thanks for watching. From CNBC'S Asia Headquarters in Singapore, I am Julia Wood .