MNI China Daily Summary: Monday, December 23

MNI: China Steel Demand Seen Falling Next Year

MNI: China CFETS Yuan Index Up 0.83% In Week of Dec 20

MNI: PBOC Net Drains CNY643.5 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1870 Mon; -2.26% Y/Y

MNI China Daily Summary: Friday, December 20

MNI: SPAIN Q3 FINAL GDP +0.8% Q/Q

MNI: UK Q3 GDP +0% Q/Q, +0.9% Y/Y

EZ/UK Bond Supply Calendar: BOE APF Sales Due 6 January

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

EQUITIES: Asian Equities Rallying, Semiconductors Outperform

EQUITIES
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • Asian markets rebounded today, lifted by easing US inflation and renewed Fed rate rate-cut bets. Japan's Nikkei 225 rose 1.10%, while the Topix climbed 0.9%, driven by Toyota Motor and bank stocks ahead of BOJ minutes and Governor Ueda's speech. Hong Kong’s Hang Seng gained 0.7%, supported by record mainland Chinese buying of HK$778b ($100b) in 2024, as a weaker yuan and Beijing’s stimulus fueled demand.
  • South Korea's Kospi jumped 1.470% and Taiwan's Taiex advanced 2.50%, with tech stocks like TSMC and Hon Hai leading gains. Australia’s ASX 200 jumped 1.4%, tracking the rally in U.S. equities. Mainland China saw modest gains as Premier Li Qiang called for innovation in semiconductors, while investor sentiment remained cautious due to global trade concerns. The broader MSCI Asia Pacific Index snapped a six-day losing streak, offering some respite after recent volatility sparked by robust U.S. data and reduced Fed rate-cut expectations for 2025.
  • There were heavy outflows on Friday in the tech heavy markets of South Korea and Taiwan, foreign investors have returned somewhat to Korea today, although inflows are well below what is needed to cover recent outflows, with just $100m inflows so far today, with majority of the flows heading into financial stocks.
200 words

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.
  • Asian markets rebounded today, lifted by easing US inflation and renewed Fed rate rate-cut bets. Japan's Nikkei 225 rose 1.10%, while the Topix climbed 0.9%, driven by Toyota Motor and bank stocks ahead of BOJ minutes and Governor Ueda's speech. Hong Kong’s Hang Seng gained 0.7%, supported by record mainland Chinese buying of HK$778b ($100b) in 2024, as a weaker yuan and Beijing’s stimulus fueled demand.
  • South Korea's Kospi jumped 1.470% and Taiwan's Taiex advanced 2.50%, with tech stocks like TSMC and Hon Hai leading gains. Australia’s ASX 200 jumped 1.4%, tracking the rally in U.S. equities. Mainland China saw modest gains as Premier Li Qiang called for innovation in semiconductors, while investor sentiment remained cautious due to global trade concerns. The broader MSCI Asia Pacific Index snapped a six-day losing streak, offering some respite after recent volatility sparked by robust U.S. data and reduced Fed rate-cut expectations for 2025.
  • There were heavy outflows on Friday in the tech heavy markets of South Korea and Taiwan, foreign investors have returned somewhat to Korea today, although inflows are well below what is needed to cover recent outflows, with just $100m inflows so far today, with majority of the flows heading into financial stocks.