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MNI China Daily Summary: Wednesday, December 11

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US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

BOC CUTS RATE 50BPS TO 3.25%, SEES GRADUAL APPROACH FROM HERE

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

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EMERGING MARKETS: Global news: September 30

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • MIDEAST (MNI) – A spokesman for the Iranian foreign ministry said that Iran will not leave any of "the criminal acts" of Israel unanswered, referring to the killing of Hezbollah leader Hassan Nasrallah in an airstrike on Beirut late last week. The Israeli airstrikes continued over the weekend, striking the centre of Beirut for the first time since 2006 in a strike believed to have killed three senior figures from the Popular Front for the Liberation of Palestine.
  • JAPAN (MNI) – Incoming PM, Shigeru Ishiba, said on Sunday that monetary policy must remain accommodative as a trend, signalling the need to keep borrowing costs low to underpin a fragile economic recovery, local media reported. Ishiba was elected president of the ruling LDP on Friday and is set to become prime minister Tuesday in an extraordinary session of the parliament.
  • COMMODITIES – Iron ore spiked almost 11% after three of China’s biggest cities eased curbs on home-buying, bolstering the outlook for demand in Asia’s largest economy as the central government adds stimulus. Shanghai, Guangzhou and Shenzhen loosened rules, following through on Beijing’s latest efforts to prop up the embattled property sector.
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  • MIDEAST (MNI) – A spokesman for the Iranian foreign ministry said that Iran will not leave any of "the criminal acts" of Israel unanswered, referring to the killing of Hezbollah leader Hassan Nasrallah in an airstrike on Beirut late last week. The Israeli airstrikes continued over the weekend, striking the centre of Beirut for the first time since 2006 in a strike believed to have killed three senior figures from the Popular Front for the Liberation of Palestine.
  • JAPAN (MNI) – Incoming PM, Shigeru Ishiba, said on Sunday that monetary policy must remain accommodative as a trend, signalling the need to keep borrowing costs low to underpin a fragile economic recovery, local media reported. Ishiba was elected president of the ruling LDP on Friday and is set to become prime minister Tuesday in an extraordinary session of the parliament.
  • COMMODITIES – Iron ore spiked almost 11% after three of China’s biggest cities eased curbs on home-buying, bolstering the outlook for demand in Asia’s largest economy as the central government adds stimulus. Shanghai, Guangzhou and Shenzhen loosened rules, following through on Beijing’s latest efforts to prop up the embattled property sector.