MNI China Daily Summary: Monday, November 25

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CHINA PRESS: Yuan To Reach 17% Of Global Payments By 2035

MNI: GERMANY NOV IFO BUSINESS CLIMATE INDEX 85.7

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, EU Due Monday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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1 Month USD/KRW Back Above 1265, Net Equity Inflows Over $1bn Last Week

KRW

1 month USD/KRW finished last week near 1267.40, a dollar gain of 0.19%, this first since July 6 in the pair. We spent most of the post Asia close on Friday tracking higher, after early lows sub 1260 couldn't be sustained. Note onshore spot finished up at 1266.10 on Friday.

  • The local data calendar is quiet in the early part of this week, with the PPI out on early on Friday, followed by the first 20-days of trade data for July, the main data focus points this week. We may see some spill over to KRW from China data today.
  • A meeting will be held at 9am local time to review the status of local industries following heavy rain in recent days. Elsewhere, Finance Minister Choo will attend the G20 finance ministers meeting in India.
  • South Korea, Japan and the US held a joint missile defence drill yesterday, which follows North Korea's test of a long range ballistic missile last Wednesday.
  • In the equity space, the lead for local shares is less positive today. The MSCI IT lost 0.10% on Friday, the SOX down 1.23%. To recap, the Kospi rose 1.43% on Friday, while offshore investors added $501.3mn to local shares, bringing net inflows last week to just shy of $1.1bn.
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