MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

MNI BRIEF: Brazil Annual Inflation Rises To 4.87% 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

US NFIB NOV SMALL BUSINESS INDEX 101.7

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% 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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Steady Start, Q2 GDP In Focus Tomorrow

KRW

Spot USD/KRW is little changed in early Wednesday dealings, the pair last near 1386. The pair remains comfortably within recent ranges, with resistance still likely above 1390, while the 20-day EMA (near 1383.5) marked Tuesday intra-session lows. Yesterday's yen gains likely aided KRW at the margins.

  • The equity lead is negative for the Kospi today, with the index softer in the first part of trade, down 0.10%. This followed softer US tones in Tuesday trade, while US Nasdaq futures are off 0.50%, with disappointment around Tesla's earnings update a headwind.
  • Offshore investor inflows have been modestly negative so far this week for South Korea.
  • On the data front, we had July consumer sentiment earlier, with the headline reading ticking up to fresh multi year highs. Rate cut expectations may be aiding the outlook. At the same time consumer inflation expectations also edged down (see this link).
  • Tomorrow, we get August business sentiment readings, along with Q2 GDP. The market expects a down step in growth to 2.5% y/y, from 3.3% in Q1.
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