CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Asian Equities Off Earlier Lows, Australian Lenders Downgraded

ASIA STOCKS
Japanese equities opened lower but recovered, with the Nikkei 225 up by 0.15% and the Topix by 0.30%. In South Korea, the Kospi rose by 0.75% as the stewardship code was updated to enhance corporate value. Taiwan's Taiex declined by 0.29% due to a drop in the semiconductor index. Australian equities fell by 0.26%, with financials down after sector downgrades, while miners performed well. New Zealand equities closed flat, Singapore equities rose by 0.60%, and Malaysian equities remained flat after a previous net outflow streak. The market awaits US PPI and Retail Sales due out later today for clues as to when the Fed may look to cut.
  • Japanese equities have opened lower, however has recovered to trade higher on the day. The market will have all eyes will be on the annual tally of pay results from Rengo due out on Friday, after a raft of Japanese companies raised wages over the past few days. The BoJ is contemplating discontinuing the purchase of ETFs if the central bank's inflation target becomes achievable, given the market's recent record high, while remaining committed to stabilizing the bond market and intervening in case of sharp yield rises, signaling a potential shift in its monetary policy. The Nikkei 225 is up 0.15%, while the Topix is 0.30% higher
  • South Korea is updating its stewardship code to encourage institutional investors to engage more actively with companies they invest in, aiming to boost corporate value. The revised code requires investors to assess companies' plans for enhancing their value, with plans to develop a new "Corporate Value-up Program" and index, aiming to list related ETFs later in the year. The Kospi is up 0.75%
  • Taiwan equities have opened lower on Thursday, there has been little in the way of market headlines. The Philadelphia Semiconductor index was down 2.47% on Wednesday, which has weighed on tech names today, while the Taiex is down 0.29%
  • Australian equities are down 0.26%, it was a quiet couple of days in terms of economic data for Australia as we head into the RBA meeting next week. Financials are weighing on the market after Macquarie downgraded the sector, with the Big four banks down 1-3%, while miners are the top performing sector
  • Elsewhere in SEA, New Zealand equities closed flat, earlier house price sales picked up. Singapore equities are up 0.60%. On Tuesday Malaysian equities broke a run of 9 straight days of net outflows, equities are flat today.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.