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 China Daily Summary: Tuesday, December 10

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

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

CROSS ASSET: HK Equity Gains Boost Risk Appetite, Yen Weaker By 0.50% On Crosses

CROSS ASSET
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

Buoyant Hong Kong and China related equity sentiment is boosting broader risk appetite as Wednesday's Asia Pac session unfolds. After yesterday's break, Hong Kong markets are up strongly, the headline HSI up around 3.5%. China markets remain closed until next Tuesday, but HSI sub indices related to China are up strongly, such as the property gauge. Stimulus optimism continues to fuel sentiment. 

  • This is helping to offset some of the risk off moves seen in the aftermath of the overnight missile strikes on Israel. Tensions have ratcheted higher, but risk premium in oil markets has held steady. Benchmark oil contacts are still sub intra-session highs from Tuesday trade.
  • In the FX space, higher beta plays AUD, NZD and NOK are up around 0.25-0.35% versus the USD, while the Yen is off by around 0.25%, leaving yen weaker on these crosses by close to 0.50%. Yen crosses remain comfortably recent highs through.
  • US yields are up a touch but gains are not much beyond 0.5bps at this stage.
  • US equity futures are back to slightly positive territory after spending the first part of the morning session in the red. Regional equities are mixed, outside of Hong Kong, are mostly lower though. 
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.

Buoyant Hong Kong and China related equity sentiment is boosting broader risk appetite as Wednesday's Asia Pac session unfolds. After yesterday's break, Hong Kong markets are up strongly, the headline HSI up around 3.5%. China markets remain closed until next Tuesday, but HSI sub indices related to China are up strongly, such as the property gauge. Stimulus optimism continues to fuel sentiment. 

  • This is helping to offset some of the risk off moves seen in the aftermath of the overnight missile strikes on Israel. Tensions have ratcheted higher, but risk premium in oil markets has held steady. Benchmark oil contacts are still sub intra-session highs from Tuesday trade.
  • In the FX space, higher beta plays AUD, NZD and NOK are up around 0.25-0.35% versus the USD, while the Yen is off by around 0.25%, leaving yen weaker on these crosses by close to 0.50%. Yen crosses remain comfortably recent highs through.
  • US yields are up a touch but gains are not much beyond 0.5bps at this stage.
  • US equity futures are back to slightly positive territory after spending the first part of the morning session in the red. Regional equities are mixed, outside of Hong Kong, are mostly lower though.