On Thursday, December 5th, the Asian stock markets exhibited an overall upward trend; however, the foreign exchange scene remained notably calmTraders were deeply engaged in analyzing the repercussions of the political upheavals unfolding in France and South KoreaRemarkably, Bitcoin achieved a historic milestone by surpassing the significant threshold of $100,000 for the first time everThroughout this trading day, investors were paying close attention to the unemployment claims data from the previous week, while also eagerly awaiting the non-farm payroll report set to be released on Friday.

In terms of regional performance, both Japan and Australia's stock markets celebrated gains, contrasting sharply with the decline observed in South Korea’s marketThis downturn was precipitated by President Yoon Suk Yeol's recent appointment of a new Defense Minister just prior to an upcoming impeachment vote, coupled with a brief implementation of martial law.

Park Seok Gil, the Chief Economist at JP Morgan in South Korea, expressed his sentiments during an interview with Bloomberg, stating, "The unpredictable nature of these political disturbances makes it challenging to forecast the future." He emphasized that the proposals being discussed had become pivotal points of contention within the chaotic landscape this week

"Ultimately, we expect resolution, but there may be short-term economic ramifications," he added.

Meanwhile, U.Sstock index futures also fell on the same day.

Despite the political instability in South Korea and France breeding uncertainty, the optimism stemming from U.SFederal Reserve Chairman Jerome Powell’s recent comments, along with a rise in U.Stech stocks, took precedence in the global market sentimentThe S&P 500 index hit an all-time high last night, with traders eagerly awaiting the forthcoming non-farm employment data.

During the DealBook Summit hosted by The New York Times, Powell affirmed that the American economy is "doing quite well," and posited that the risks associated with the labor market have diminishedHe underscored that Federal Reserve officials would be cautious while adjusting interest rates down to neutral levels, where the economy neither experiences stimulus nor downturn.

Krishna Guha of Evercore noted that Powell’s remarks were "somewhat hawkish but did not challenge the market’s anticipation of a rate cut in December, which aligns with our consistent viewpoints."

The Federal Reserve’s Beige Book—a core economic indicator closely watched by Powell—revealed a slight uptick in economic activities during November, along with growing optimism among businesses regarding demand forecasts.

In Singapore, the benchmark stock index showed signs of potentially achieving a historical high, bolstered by a more positive outlook in the banking sector

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Additionally, Robinhood Markets Incannounced plans to enter the Asian market next year, choosing Singapore as its regional headquartersThe Straits Times Index has emerged as the top-performing stock index in Southeast Asia this year, boasting an impressive 18% increase.

In the currency markets, U.STreasury prices experienced a minor rise, while the U.Sdollar index remained stable.

Thursday's forex market displayed contrasting movements for the Japanese Yen and South Korean WonThe Yen demonstrated resilience, maintaining its trading ratio against the U.Sdollar around the 150 markA local media report had catalyzed a chain reaction in the market, significantly lowering investor expectations for a potential interest rate hike by the Bank of Japan this month, thus strengthening the YenIn stark contrast, the Won faced downward pressure amid the national shock caused by martial law; policymakers urgently called for calm and stability in the financial markets

However, following this abrupt incident, market sentiment wavered, eroding investor confidence and shifting capital flows, leading to additional pressure on the Won in forex trading.

The Euro, on the other hand, faced increased strain due to budgetary disputes in ParisThe ultra-right leader Marine Le Pen and the left-wing coalition's opposition to Michel Barnier's government added layers of uncertainty for investorsNevertheless, as the results were set to be disclosed after the regular trading session, the market had largely absorbed the potential impacts in advance.

Bitcoin continued its momentum from Wednesday’s gains, breaking through the $100,000 mark for the first time in historyAchieving this landmark was aided by the appointment of a cryptocurrency advocate to lead the U.SSecurities and Exchange Commission.

Oil prices stabilized following a decline, with traders keeping a close eye on the OPEC+ meeting scheduled for Thursday