MNI China Daily Summary: Friday, January 10

MNI BRIEF: China To Adopt Very Proactive Fiscal Policy-Offical

CANADA LIBERAL LEADERHIP VOTE TO REPLACE TRUDEAU SET FOR MAR 9

MNI BRIEF: PBOC Suspends Bonds Trades As Yields Drop

MNI: PBOC Net Drains CNY14.8 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1891 Fri; -2.36% Y/Y

USDA: CORN STOCKS 12,074M BSL ON JAN 1

MNI: USDA: 2024/2025 CORN PRODUCTION EST 14.87B BSL

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

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: Semiconductors Could See Reprieve on TSMC Earnings

EQUITIES
  • The semiconductors/chips sector remains a particular focus for global equities - Netherlands-listed ASML closed at the lows yesterday on a sour outlook due to likely US export curbs on chips to China, marking a loss of 11% on the session (the worst single trading day since COVID).
  • Today's update from Taiwan's TSMC is rosier, with margins, sales and reported net income higher-than-expected. Any commentary on international chips trade will be carefully watched given the impact on headline indices yesterday. Asia's semiconductor stock index has improved since the results, narrowing losses of ~4% to less than 3% at typing. 
  • Eurostoxx future closed lower by 1.7% yesterday as ASML provided a considerable drag on the index. Futures sit just off those lows into the cash open in ~30 minutes. 
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