The Asian Session
- Asian markets mixed ahead of key US inflation data. Japan’s Nikkei is flat, China’s CSI 300 up 0.2%, Hong Kong’s Hang Seng fell 0.6%. South Korea’s KOSPI gains 0.8% as markets stabilize.
- China’s Central Economic Work Conference begins today amid dovish policy signals. Politburo indicates looser monetary policy and fiscal stimulus for 2025. ANZ warns US tariffs could reduce China’s GDP by 1.5%.
- Political crisis deepens in Syria as rebels overthrow Assad government and take control of Damascus. Markets watching implications for regional stability and Iran’s influence.
- Japan’s wholesale inflation rises for third straight month, fueling BOJ rate hike speculation. Markets split on potential rate increase at next week’s meeting following Fed decision.
- South Korean President Yoon faces criminal investigation over martial law declaration. Police raid presidential office amid ongoing political turmoil.
- Oil edges higher with Brent at $72.67 and WTI at $69.07. API data shows unexpected 0.5M barrel build in US crude inventories versus 1.3M draw forecast.
- Singapore raises 2024 GDP growth forecast to 3.6% from 2.6%. MAS expected to maintain current policy settings in January review.
- Gold steady at $2,694 on geopolitical tensions. Copper gains to $9,277 on China stimulus hopes. Taiwan raises alert over increased Chinese naval activity.
- Myanmar’s economy forecast to contract 1% this fiscal year as floods compound conflict-related challenges, World Bank downgrades outlook.
- Markets await US CPI data and Fed meeting next week. Key focus on BOJ policy decision and China’s economic planning conference outcomes.
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