MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI: US NOV SUPERCORE CPI (CORE SERVICES EX-HOUSING) 0.342%

MNI: US NOV CPI UNROUNDED M/M 0.313%, CORE 0.308%

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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China Reports New Foreign Direct Investment Figures

EMERGING MARKETS
  • Global: Houthi militants in Yemen fired missiles at an American-owned commercial vessel on Thursday, the same day President Joe Biden acknowledged US airstrikes have not halted the Red Sea attacks. The Houthis launched two anti-ship ballistic missiles at the Chem Ranger, a Greek-operated tanker, US Central Command said in a statement posted on social media platform X. - BBG
  • Global: Diplomats from Washington to Beijing asked Pakistan and Iran to show restraint after the two nations engaged in back-and-forth missile strikes, with both sides now showing signs they don’t want tensions to escalate. - BBG
  • China: New foreign direct investment into China fell last year to the lowest level in the three years, as companies in Hong Kong and overseas became less willing to put new money into the mainland. New actually utilized foreign investment in 2023 was 1.1 trillion yuan ($153 billion), according to data released by the Ministry of Commerce on Friday. That was 8% lower than in 2022, which was the highest on record in comparable data going back to 2014.
  • China: China’s largest brokerage has suspended short selling for some clients in mainland markets amid a deepening rout in the nation’s stocks, according to people familiar with the matter. State-owned Citic Securities Co. has stopped lending stocks to individual investors and raised the requirements for institutional clients earlier this week after so-called window guidance from regulators, said the people, asking not to be identified discussing a private matter. – BBG
  • Japan: The Bank of Japan will likely maintain its easy policy, including negative interest rates and yield curve control, at the Jan 22-23 meeting, despite strong wage hike reports from branch managers, as the economy fails to show signs of meeting the Bank’s 2% inflation target. Strong wages at some firms amid persistent labour shortages have encouraged policymakers and reinforced conditions that may drive a policy exit as early as March.
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