MNI China Daily Summary: Wednesday, February 5

MNI: UK FINAL JAN SRVCS PMI 50.8 (FLASH: 51.2); DEC 51.1

MNI: EUROZONE JAN FINAL SRVCS PMI 51.3 (FLASH: 51.4); DEC 51.6

MNI BRIEF: China Spring Festival Trips Up 5.9% Y/Y

MNI: PBOC Net Drains CNY716.5 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1693 Weds; -1.18% Y/Y

MNI: EUROZONE DEC PPI +0.4% M/M, +0% Y/Y

MNI: GERMANY FINAL JAN SRVCS PMI 52.5 (FLASH: 52.5); DEC 51.2

MNI: FRANCE FINAL JAN SRVCS PMI 48.2 (FLASH: 48.9); DEC 49.3

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

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ASIA STOCKS: Asian Equities Mixed, Most Markets Still Closed

ASIA STOCKS
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Asian stocks struggled for momentum as Japan’s Nikkei and Topix edged lower both down about 0.30%, weighed by declines in electronics, real estate, and metals, despite strength in automobiles, steel, and financials. Advantest surged up to 3.5% after raising its profit forecast, citing AI-driven demand. Australia's ASX200 is trading 0.40% higher with energy stocks the best performers, while the buy no pay later company ZIP Money, plunged 20% on poor earnings.

  • Focus late in the US session overnight was on big tech earnings, which saw mixed results, however most stocks traded higher.
  • With many major Asian markets closed for Lunar New Year, trading volumes were light. Investors weighed the Federal Reserve’s rate pause, where Powell dismissed hawkish signals but emphasized patience in policy adjustments. Meanwhile, US tech earnings remained a key focus, with Meta rebounding, Tesla gaining, and Microsoft sliding on slowing cloud growth.
  • Oil pared losses amid uncertainty over tariffs on Canada and Mexico, while attention in Asia now shifts to upcoming speeches from the RBA and BOJ for further rate guidance.
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Asian stocks struggled for momentum as Japan’s Nikkei and Topix edged lower both down about 0.30%, weighed by declines in electronics, real estate, and metals, despite strength in automobiles, steel, and financials. Advantest surged up to 3.5% after raising its profit forecast, citing AI-driven demand. Australia's ASX200 is trading 0.40% higher with energy stocks the best performers, while the buy no pay later company ZIP Money, plunged 20% on poor earnings.

  • Focus late in the US session overnight was on big tech earnings, which saw mixed results, however most stocks traded higher.
  • With many major Asian markets closed for Lunar New Year, trading volumes were light. Investors weighed the Federal Reserve’s rate pause, where Powell dismissed hawkish signals but emphasized patience in policy adjustments. Meanwhile, US tech earnings remained a key focus, with Meta rebounding, Tesla gaining, and Microsoft sliding on slowing cloud growth.
  • Oil pared losses amid uncertainty over tariffs on Canada and Mexico, while attention in Asia now shifts to upcoming speeches from the RBA and BOJ for further rate guidance.