MNI China Daily Summary: Friday, November 22

UK NOV FLASH MANUF PMI 48.6 (FCST: 50.0); OCT 49.9

EUROZONE NOV FLASH MANUF PMI 45.2 (FCST: 46.0); OCT 46.0

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

MNI China Daily Summary: Thursday, November 21

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

GERMANY NOV FLASH MANUF PMI 43.2 (FCST: 43.0); OCT 43.0

FRANCE NOV FLASH MANUF PMI 43.2 (FCST:44.5); OCT 44.5

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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EQUITIES: Eurostoxx 50 Futures Recover From Wednesday's Lows

EQUITIES
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A bearish condition in Eurostoxx 50 futures remains intact and this week’s extension reinforces current conditions. The sell-off confirms a resumption of the downtrend that started Sep 30. Price has breached 4746.94, the 61.8% retracement of the Aug 5 - Sep 30 bull cycle. This exposes 4662.12, the 76.4% retracement point. Initial firm resistance has been defined at 4961.00, Nov high, where a break would highlight a reversal. The trend condition in S&P E-Minis remains bullish and the contract is trading just below its recent highs. A key short-term support has been defined at 5724.25, the Nov 4 low. The latest rally resulted in a breach of the bull trigger at 5927.25, Oct 17 high, confirming a resumption of the primary uptrend. The 6000.0 psychological handle has been pierced. Sights are on 6070.16, a Fibonacci projection. Initial support is at 5927.25, the Oct 17 high.

  • Japan's NIKKEI closed lower by 185.96 pts or -0.48% at 38535.7 and the TOPIX ended 7.2 pts lower or -0.27% at 2701.22.
  • Elsewhere, in China the SHANGHAI closed lower by 59.439 pts or -1.73% at 3379.839 and the HANG SENG ended 387.64 pts lower or -1.96% at 19435.81.
  • Across Europe, Germany's DAX trades higher by 226.51 pts or +1.19% at 19227.12, FTSE 100 higher by 3.38 pts or +0.04% at 8033.71, CAC 40 up 58.22 pts or +0.81% at 7275.05 and Euro Stoxx 50 up 61.83 pts or +1.3% at 4802.17.
  • Dow Jones mini up 52 pts or +0.12% at 44160, S&P 500 mini up 5 pts or +0.08% at 6021, NASDAQ mini up 9 pts or +0.04% at 21166.5.
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A bearish condition in Eurostoxx 50 futures remains intact and this week’s extension reinforces current conditions. The sell-off confirms a resumption of the downtrend that started Sep 30. Price has breached 4746.94, the 61.8% retracement of the Aug 5 - Sep 30 bull cycle. This exposes 4662.12, the 76.4% retracement point. Initial firm resistance has been defined at 4961.00, Nov high, where a break would highlight a reversal. The trend condition in S&P E-Minis remains bullish and the contract is trading just below its recent highs. A key short-term support has been defined at 5724.25, the Nov 4 low. The latest rally resulted in a breach of the bull trigger at 5927.25, Oct 17 high, confirming a resumption of the primary uptrend. The 6000.0 psychological handle has been pierced. Sights are on 6070.16, a Fibonacci projection. Initial support is at 5927.25, the Oct 17 high.

  • Japan's NIKKEI closed lower by 185.96 pts or -0.48% at 38535.7 and the TOPIX ended 7.2 pts lower or -0.27% at 2701.22.
  • Elsewhere, in China the SHANGHAI closed lower by 59.439 pts or -1.73% at 3379.839 and the HANG SENG ended 387.64 pts lower or -1.96% at 19435.81.
  • Across Europe, Germany's DAX trades higher by 226.51 pts or +1.19% at 19227.12, FTSE 100 higher by 3.38 pts or +0.04% at 8033.71, CAC 40 up 58.22 pts or +0.81% at 7275.05 and Euro Stoxx 50 up 61.83 pts or +1.3% at 4802.17.
  • Dow Jones mini up 52 pts or +0.12% at 44160, S&P 500 mini up 5 pts or +0.08% at 6021, NASDAQ mini up 9 pts or +0.04% at 21166.5.