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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PBOC's Lack Of Liquidity Drags China Lower

EQUITIES

Another mixed day for equity markets in the Asia-Pac time zone. Markets in mainland China and Hong Kong are lower, the PBOC drained liquidity from the system at the MLF operations, which was interpreted by the market as implied tightening and put downward pressure on equity markets. In Japan markets are seeing slight gains, helped higher by Softbank after reports the Vision Fund could hit profit of $30bn in Q1. US futures fluctuated with the Nasdaq struggling to move higher after Coinbase reversed initial gains on its trading debut, while bank stocks helped support S&P 500 and Dow futures.

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