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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EQUITIES: Asian Equities Mixed, ASX200 Makes New Highs

EQUITIES
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  • Asian equities are mixed this morning with Japanese stocks plunging nearly 5% after Shigeru Ishiba’s surprise win in the ruling party's leadership race, replacing investor-favored Sanae Takaichi. The Nikkei 225 (-4.20%) dropped as exporters like Toyota and Honda saw steep declines due to a stronger yen, while banks rose on hopes of regional economic revitalization under Ishiba’s policies (TOPIX Banks Index +2%). Investors are bracing for near-term volatility as they await more clarity on Ishiba's stance on fiscal and monetary policies, including possible interest rate hikes and corporate tax increases.
  • Elsewhere Australian stocks hit fresh record highs (ASX200 +0.83%), driven by gains in energy and commodity sectors following China's stimulus measures, though gold miners saw declines as gold prices stabilized, while equities in South Korea & Taiwan both trade about 0.80% lower, led by losses in tech stocks.
  • US equity futures were about 0.20% higher in early morning trading however we now trade little changed for the day. 
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  • Asian equities are mixed this morning with Japanese stocks plunging nearly 5% after Shigeru Ishiba’s surprise win in the ruling party's leadership race, replacing investor-favored Sanae Takaichi. The Nikkei 225 (-4.20%) dropped as exporters like Toyota and Honda saw steep declines due to a stronger yen, while banks rose on hopes of regional economic revitalization under Ishiba’s policies (TOPIX Banks Index +2%). Investors are bracing for near-term volatility as they await more clarity on Ishiba's stance on fiscal and monetary policies, including possible interest rate hikes and corporate tax increases.
  • Elsewhere Australian stocks hit fresh record highs (ASX200 +0.83%), driven by gains in energy and commodity sectors following China's stimulus measures, though gold miners saw declines as gold prices stabilized, while equities in South Korea & Taiwan both trade about 0.80% lower, led by losses in tech stocks.
  • US equity futures were about 0.20% higher in early morning trading however we now trade little changed for the day.