MNI China Daily Summary: Wednesday, February 19

MNI BRIEF: China Jan Utilised FDI Lower Than Last Year

MNI BRIEF: China Unveils Plan To Attract Foreign Investors

MNI BRIEF: China To Ensure Credit Supply For Private Companies

MNI BRIEF: China Bond Connect Holdings Down In January

MNI: China Tier-one Housing Markets Likely To Stabilise

MNI: UK JAN CPI -0.1% M/M, +3% Y/Y

RBNZ SAYS IT HAS SCOPE TO LOWER FURTHER IN 2025

MNI: RBNZ CUTS OCR 50BP TO 3.75%

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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SOUTH KOREA: Country Wrap:  PMI Bounce Good News for the BOK. 

SOUTH KOREA
EM BulletBulletSouth KoreaAPACEmerging Market News
  • South Korea’s January PMI printed at +50.3, up from +49.0 prior.  Within the print, output shows positive signs, rising to +50.2 from +47.8 in December, the highest reading since August 2024 with new orders on the rise also.  When coupled with the much stronger than expected industrial production release today, this is welcome relief for the BOK as they prepare to meet later this month.  Both data points show signs of re-bound for the Korean economy giving the Central Bank reasons to be patient. (source: MNI – Market News)
  • South Korea’s exports maintained growth momentum in January, keeping optimism alive at the start of a year overshadowed by domestic political turmoil and Donald Trump’s tariff threat.  The value of shipments adjusted for working-day differences increased 7.7% from a year earlier, according to data released Saturday by the customs office. That compared with a 4.3% gain initially reported for December. (source: BBG)
  • The KOSPI is being hit hard in trading today down -2.75% to be one of the worst performing bourses.
  • KRW:  the won has struggled all day and is one of the worst performing regional currencies down -0.89 at 1,467.28
  • Bonds:  whilst short end bonds have sold off, the rest of the curve has seen lower yields with the long end the best performer KTB 10YR 2.843% (-2.5bps)
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  • South Korea’s January PMI printed at +50.3, up from +49.0 prior.  Within the print, output shows positive signs, rising to +50.2 from +47.8 in December, the highest reading since August 2024 with new orders on the rise also.  When coupled with the much stronger than expected industrial production release today, this is welcome relief for the BOK as they prepare to meet later this month.  Both data points show signs of re-bound for the Korean economy giving the Central Bank reasons to be patient. (source: MNI – Market News)
  • South Korea’s exports maintained growth momentum in January, keeping optimism alive at the start of a year overshadowed by domestic political turmoil and Donald Trump’s tariff threat.  The value of shipments adjusted for working-day differences increased 7.7% from a year earlier, according to data released Saturday by the customs office. That compared with a 4.3% gain initially reported for December. (source: BBG)
  • The KOSPI is being hit hard in trading today down -2.75% to be one of the worst performing bourses.
  • KRW:  the won has struggled all day and is one of the worst performing regional currencies down -0.89 at 1,467.28
  • Bonds:  whilst short end bonds have sold off, the rest of the curve has seen lower yields with the long end the best performer KTB 10YR 2.843% (-2.5bps)