MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% 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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Late Equity Roundup: Off Lows, Banks Paring Losses Ahead Weekend

US STOCKS
  • US Stocks continue to drift off first half lows, SPX Eminis at 3990.0 and the Dow at 32,175 are making modest gains, while Nasdaq shares remain mildly weaker at 11,775 in late trade.
  • Utilities (+2.34%), Real Estate (+1.51%) and Consumer Staples (+1.44%) sectors continue to underpin Eminis while bank shares are gradually shrugging off early carry-over weakness following a sell-off in European banks overnight (Deutsche Bank -12%, Commerzbank -9%).
  • From a technical perspective, focus remains on the 50-day EMA as Eminis failed to hold above the support level after Wednesday's sell-off. The move down means that price has - so far - failed to hold above pivot resistance around the 50-day EMA - a bearish development.
  • The EMA intersects at 4021.50 and a clear break is required to strengthen bullish conditions. Support at 3966.25, Wednesday’s low, has been breached. This signals scope for 3897.25 next, the Mar 20 low. Key short-term resistance is at 4073.75, the Mar 22 high.
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