MNI China Daily Summary: Tuesday, December 31

MNI China Press Digest Dec 31: PBOC, Panda Bonds, EVs

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CHINA DEC MANUFACTURING PMI 50.1 VS 50.3 IN NOV

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MNI: US REDBOOK: DEC STORE SALES +5.5% V YR AGO MO

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

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AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Energy Crisis Deepens As South Africa Narrowly Avoids Stage 7 Load-Shedding For Now

SOUTH AFRICA
  • Eskom is implementing Stage 6 load-shedding until Friday morning, which according to BusinessLive will leave some users without power for 10h and cost the economy some ZAR3bn a day. The electricity utility postponed the start of maintenance and refuelling works at Unit 1 of the Koeberg nuclear-power plant until Thursday afternoon to avoid the "worst nightmare" of Stage 7 outages. Taking the unit offline would remove around 900MW from the grid for half a year, on top of the 6,000MW (about a fifth of demand) sapped by Stage 6 load-shedding. Koeberg's Unit 2 is due to be taken off grid for maintenance late next year. Eskom spokesperson warned that the situation is unlikely to improve in the next 6-12 months, with some observers already turning more pessimistic, pointing to Eskom's record of delays in maintenance works.
  • South Africa's Q4 BER Consumer Confidence, Q3 current account balance and October industrial output are due later today. It is expected that the figures at 0900GMT/11000SAST will show a current account deficit of ZAR84bn, the second consecutive shortfall.
  • President Ramaphosa declared December 27 a public holiday to ensure that South Africans have 12 paid public holidays in 2022.
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