MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI: NORWAY NOV CPI +0.3% M/M, +2.4% Y/Y

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: Eurostoxx 50 Futures Extends This Week's Rally, Above November Highs

EQUITIES
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Eurostoxx 50 futures have traded higher this week and the contract is holding on to its latest gains. The move higher undermines a recent bearish theme. Price has traded through the 50-day EMA, at 4868.67. The clear breach of this average strengthens a bullish theme and note that 4961.00, the Nov 6 high, has been pierced. This opens 5015.00, the Oct 29 high. Key support is 4699.00, the Nov 19 low. Initial support lies at 4844.40, the 20-day EMA. The S&P E-Minis contract maintains a bullish tone and price traded higher yesterday. This confirms a resumption of the uptrend and signals scope for a continuation near-term. Note that moving average studies are in a bull-mode set-up, highlighting a dominant uptrend and positive market sentiment. Sights are on the 6145.26, a Fibonacci projection. Initial support to watch lies at 5990.65, the 20-day EMA.

  • Japan's NIKKEI closed lower by 304.43 pts or -0.77% at 39091.17 and the TOPIX ended 15.02 pts lower or -0.55% at 2727.22.
  • Elsewhere, in China the SHANGHAI closed higher by 35.221 pts or +1.05% at 3404.076 and the HANG SENG ended 305.41 pts higher or +1.56% at 19865.85.
  • Across Europe, Germany's DAX trades higher by 46.91 pts or +0.23% at 20405.73, FTSE 100 lower by 5 pts or -0.06% at 8344.57, CAC 40 up 81.83 pts or +1.12% at 7413.27 and Euro Stoxx 50 up 21.31 pts or +0.43% at 4973.52.
  • Dow Jones mini down 10 pts or -0.02% at 44857, S&P 500 mini down 2.5 pts or -0.04% at 6086.25, NASDAQ mini up 4 pts or +0.02% at 21477.
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Eurostoxx 50 futures have traded higher this week and the contract is holding on to its latest gains. The move higher undermines a recent bearish theme. Price has traded through the 50-day EMA, at 4868.67. The clear breach of this average strengthens a bullish theme and note that 4961.00, the Nov 6 high, has been pierced. This opens 5015.00, the Oct 29 high. Key support is 4699.00, the Nov 19 low. Initial support lies at 4844.40, the 20-day EMA. The S&P E-Minis contract maintains a bullish tone and price traded higher yesterday. This confirms a resumption of the uptrend and signals scope for a continuation near-term. Note that moving average studies are in a bull-mode set-up, highlighting a dominant uptrend and positive market sentiment. Sights are on the 6145.26, a Fibonacci projection. Initial support to watch lies at 5990.65, the 20-day EMA.

  • Japan's NIKKEI closed lower by 304.43 pts or -0.77% at 39091.17 and the TOPIX ended 15.02 pts lower or -0.55% at 2727.22.
  • Elsewhere, in China the SHANGHAI closed higher by 35.221 pts or +1.05% at 3404.076 and the HANG SENG ended 305.41 pts higher or +1.56% at 19865.85.
  • Across Europe, Germany's DAX trades higher by 46.91 pts or +0.23% at 20405.73, FTSE 100 lower by 5 pts or -0.06% at 8344.57, CAC 40 up 81.83 pts or +1.12% at 7413.27 and Euro Stoxx 50 up 21.31 pts or +0.43% at 4973.52.
  • Dow Jones mini down 10 pts or -0.02% at 44857, S&P 500 mini down 2.5 pts or -0.04% at 6086.25, NASDAQ mini up 4 pts or +0.02% at 21477.