This is CNBC's live blog covering Asia-Pacific markets.

Hong Kong's Hang Seng index jumped nearly 3% in its final hour of trade, after china vowed "more proactive" fiscal measures and "moderately" looser monetary policy next year to boost domestic consumption.

The announcement came from an official readout of a key policy meeting that outlined upcoming economic priorities.

Prior to the news, mainland China's CSI 300 index fell 0.17% to close at 3,966.57 after China's consumer price growth came in below expectations in November.

CPI rose 0.2% year on year, down from a 0.3% increase in October, according to the National Bureau of Statistics on Monday. Economists from Reuters forecast price growth of 0.5%.

Elsewhere in the Asia-Pacific, markets were mixed as traders assessed revised economic growth data from Japan and South Korea's political situation.

South Korea's Kospi stock index fell after President Yoon Suk Yeol survived an impeachment vote over the weekend as the fallout from his brief declaration of martial law continues to roil the country.

The benchmark index fell 2.78% to 2,360.58, while the small-cap Kosdaq dropped 5.19% to 627.01 as investors continued to monitor the country's political situation.

While Yoon's People Power Party boycotted the Saturday impeachment vote brought by opposition parties, its leader has said that Yoon would step down.

Meanwhile, prosecutors in the country have named President Yoon as a subject in a criminal investigation for potential charges of treason and abuse of power, according to local media reports.

Japan's Nikkei 225 climbed 0.18% to end the trading day at 39,160.5, while the Topix gained 0.27% to 2,734.56. The country's third-quarter gross domestic product was revised to 0.3% on a quarter-on-quarter basis, up from 0.2% and above estimates from a Reuters poll that predicted no change.

Australia's S&P/ASX 200 ended marginally higher at 8,423.

In the U.S. on Friday, the S&P 500 and Nasdaq Composite rose to fresh records after November jobs data came in slightly better than expected, but not so hot as to deter the Federal Reserve from cutting rates again later this month.

The broad market S&P 500 climbed 0.25% to 6,090.27. Tech-heavy Nasdaq advanced 0.81% to 19,859.77, bolstered by gains in Tesla, Meta Platforms and Amazon.

The Dow Jones Industrial Average slipped 123.19 points, or 0.28%, to close at 44,642.52.

The S&P 500 and Nasdaq went on to their third straight positive week as well, rising 0.96% and 3.34%, respectively. The Dow slipped 0.6% during the period.

— CNBC's Sean Conlon, Lisa Kailai Han and Pia Singh contributed to this report.

China vows ‘more active’ fiscal stimulus measures, ‘moderately’ looser monetary policy

China's leaders on Monday pledged "more proactive" fiscal measures and "moderately" looser monetary policy next year to boost domestic consumption, according to an official readout of a key policy meeting that outlined upcoming economic priorities.

The Politburo, a top decision-making body led by President Xi Jinping, said it will stabilize property and stock markets while strengthening the "unconventional counter-cyclical" adjustment, the Communist Party's CNBC-translated readout said.

Read the full story here.

— Anniek Bao

Weak China CPI data indicates that stimulus measures are not really delivering: Economist

Eswar Prasad, professor of trade policy at Cornell University, says China needs more targeted and substantial fiscal stimulus measures, accompanied by confidence-building measures from the government.

Speaking to CNBC's "Street Signs Asia," the economist said China's weak consumer inflation data released on Monday was "not surprising, but certainly disappointing."

"This certainly gives the government a very important indication that the stimulus measures that have been put in place so far are not delivering the goods in terms of bolstering growth and bolstering private sector confidence," he said.

He added that to get the economy back on track, the government will need to propose additional stimulus and confidence-building measures at its annual central economic work conference this week.

— Dylan Butts

China’s top leaders are set to discuss GDP growth target, stimulus measures amid economic worries

Chinese President Xi Jinping and other top leaders are gearing up for the annual central economic work conference, reportedly set to take place this week, as Beijing strives to boost growth.

While an official date for the two-day conclave has yet to be announced, Bloomberg has reported that the closed-door meeting will be held from Dec. 11 to 12. Usually, the annual conference is preceded by the high-profile gathering of the Politburo, the top decision making body led by president Xi.

During both meetings, top policymakers will review economic performance and policy implementation in the current year, while setting priorities for the following year, economists at Goldman Sachs said.

Read the full story here.

— Anniek Bao

SK finance minister urges parliament to finalize 2025 budget amid political turmoil: Yonhap

South Korean Finance Minister Choi Sang-mok urged the National Assembly to speed up the finalization of the country's 2025 budget on Monday, according to a report from local media agency Yonhap.

The country's government has been at a legislative standstill in the aftermath of President Yoon Suk Yeol's brief martial law declaration and subsequent events, with discussions on the 2025 budget proposal mostly stalled.

Last month, the main opposition Democratic Party had tried to push through a smaller budget bill than that proposed by the ruling party. However, the National Assembly Speaker put the plan on hold, calling on rival parties to compromise.

The Democratic Party is now reportedly pushing to pass its version of the budget in a plenary session set for Tuesday.

— Dylan Butts

China consumer prices climb less than expected as economy slows amid trade war worries

China's consumer prices rose less-than-expected in November, climbing 0.2% from a year ago, according to data from the National Bureau of Statistics released Monday.

Analysts polled by Reuters had expected a slight pickup in consumer prices to 0.5% in November from a year ago, versus 0.3% in October.

China's producer price index declined for the 26th month. Producer inflation fell by 2.5% year on year in November, less than the estimated 2.8% decline as per the Reuters poll. 

The persistent near-zero inflation shows that China is still grappling with sluggish domestic demand and deflation at the wholesale level. This is in spite of Beijing's slate of stimulus efforts since September which has included interest rate cuts, support for the stock and property markets as well as efforts to boost bank lending.

Read the full story here.

— Lee Ying Shan

CNBC Pro: Five global stocks the pros are buying before the start of 2025

2024 has seen some massive stock rallies, as investor interest in themes such as AI has shown little sign of waning.

As the year-end nears, CNBC Pro asked three fund managers what global stocks they are buying in the lead-up to 2025, as they attempt to get ahead of the curve.

CNBC Pro subscribers can read more here.

— Amala Balakrishner

S&P 500 to hit 6,700 by year-end 2025, says HSBC

The S&P 500 is set for more gains in 2025, according to HSBC.

The firm said it expects the broad market index to hit 6,700 by the end of next year, which implies more than 10% upside from Thursday's close. The index has already risen more than 27% this year.

"While this year's equity rally was a mix of both earnings growth and a valuation re-rating (c50/50), we expect next year's equity returns to be focused on earnings growth as valuations are more stretched," analyst Nicole Inui told clients in a Friday note. "Overall, we expect earnings to grow by 9% incorporating a slower but still resilient US economy and some margin expansion."

Inui also said she expects the U.S. economy to slow over the course of the next year but remain resilient as inflation eases. That would enable the Federal Reserve to cut interest rates by another 125 basis points, she forecast.

— Sean Conlon

UBS says 'a constructive stance is warranted on global equities' next year

Despite the threat of tariffs next year, investors should stay bullish on stocks in 2025, according to UBS.

"Heading into 2025, we think a constructive stance is warranted on global equities, and on U.S. stocks in particular," the bank wrote in a Friday report. "We note that historically U.S. equities tend to rally into presidential elections and after, with the average gain in the 150 trading days following an election averaging near 5% in data going back to 1928 for the S&P 500."

UBS added that the U.S. sectors it views as most attractive are the technology, utilities and financial sectors.

— Lisa Kailai Han

November jobs report beats expectations

The U.S. economy added 227,000 jobs in November, marking a sharp rebound from the previous month. Economist polled by Dow Jones expected an increase of 214,000 jobs for the month. Jobs growth for October was revised to 36,000 from 12,000.

The unemployment rate came in at 4.2% for November, as was expected.

— Fred Imbert