MNI China Daily Summary: Thursday, Dec 5

MNI: UK NOVEMBER CONSTRUCTION PMI 55.2 (FCST: 53.5); OCT 54.3

MNI: EUROZONE NOVEMBER CONSTRUCTION PMI 42.7 OCT 43.0

MNI BRIEF: China Construction Output Slows In November

MNI: PBOC Net Drains CNY153 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Lower At 7.1879 Thurs; -1.82% Y/Y

MNI: EUROZONE OCT RETAIL SALES -0.5% M/M, +1.9% Y/Y

MNI: FRANCE OCT INDUSTRIAL PRODUCTION -0.1% M/M, -0.6% Y/Y

MNI: GERMANY OCT FACTORY ORDERS -1.5% M/M

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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Mixed Picture

EQUITIES

A mixed session for Asia-Pac equities, investors still contemplating worries about a hedge fund default and who could be impacted next, while a fresh wave of concerns about inflation have seen bond yields move higher.

  • In Japan the Nikkei 225 lost around 1%, Nomura weighed on the index after saying it was too early to estimate the loss tied to Archegos Capital Management. Australian markets dropped to their lowest in a week after an uptick in COVID-19 cases and a snap lockdown in Greater Brisbane. Hong Kong, China, Taiwan and South Korea all saw gains, supported by the tech sector.
  • Futures in the US were earlier in positive territory after US President Biden said 90% of US citizens would be eligible for the COVID-19 vaccine In April, however they have edged down into minor negative territory on concerns of further exposure to Archegos Capital Management positions. The Dow Jones is the exception, futures clinging on to minor gains on hopes for Biden's stimulus plan due to be announced on Wednesday.
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