MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

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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Tech Sensitive Plays Benefiting From Equity Rebound

ASIA FX

USD/Asia pairs are lower across the board, although tech sensitive plays like KRW and TWD are outperforming. South Korean and Taiwan share indices are higher, both by around 1.25%. The follows the positive lead from Nasdaq futures, which came after Nvidia gave a bullish outlook in its earnings update earlier today.

  • Spot USD/KRW is back to the 1295/96 region, around 0.75% sub yesterday's closing levels. A more hawkish tone from the BoK post today's on hold decision, may also be helping at the margins.
  • USD/TWD spot is around 0.40% lower, last near 30.38. USD/CNH is around 0.20% lwoer, last close to the 6.8900 handle.
  • In SEA, USD/PHP is back to 55.00, +0.35% firmer in PHP terms. But other regional currencies are seeing more muted gains.
  • The tone in the majors is higher beta plays outperforming the likes of yen etc.
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