MNI China Daily Summary: Thursday, December 12

RPT-MNI BOC WATCH: More Gradual Approach Seen After 50BP Cut

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

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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Red On The Screens

EQUITIES

Asia-Pac equities hemorrhaged on Friday, taking a negative lead from the US after a day of heavy losses as US yields spiked. Most markets in Asia are off their worst levels but still seeing losses of between 2% - 3%, despite a calmer session for bonds.

  • US futures are lower, the S&P 500 closed yesterday with a 2.5% with tech shares leading losses, this bled over into the Nasdaq 100 which tumbled 3.6%, the biggest one day drop since October, with market participants adjusting portfolios to favour companies poised to benefit from an end to lockdowns.
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