To The Moon

Asian stock markets were volatile due to disappointing Chinese economic data and yen intervention panic.

🇺🇸 S&P 500: Market closed

🇺🇸 NASDAQ: Market closed

🇪🇺 STOXX 600: 0.43% 📈

🇯🇵 Nikkei 225: -0.94% 📉

🇭🇰 Hang Seng Index: -0.20% 📉

🇨🇳 CSI 300: -0.25% 📉

🇸🇬 Straits Times Index: -0.63% 📉

• Chinese stock markets fell, with the Hang Seng $HSI(HSI)$  Index and CSI300 $CSI300(000300.SH)$  dropping -0.2% and -0.3%, respectively, influenced by economic uncertainty and disappointing CPI and PPI data.

• The Nikkei 225  index dropped -0.9% due to intervention threats to stabilize the yen. On Wednesday, Japan's Finance Minister Katsunobu Kato expressed concern over the yen's recent movements.

💡 Upcoming Events 💡:

• By the end of this week, the U.S. non-farm payrolls, unemployment rate, Michigan University preliminary consumer confidence index will be released on Friday.

💡 Things to Know Today 💡:

1. China's consumer inflation rose by 0.1% year-on-year, slowing for the fourth consecutive month, posing a challenge to the government's efforts to use economic stimulus to curb deflation and stimulate demand.

China consumer inflation

2. China has ramped up support for the struggling yuan, planning to issue a record number of bills in the Hong Kong market to absorb excess liquidity.

Chinese Yuan

3. The Bank of Japan has noted progress in wage growth but has not signaled any possible interest rate hikes this month.

Japan interest hike

4. Taiwan's trade surplus with the U.S. surged to a record high in 2024, a development that could upset President-elect Donald Trump, who will return to the White House with a focus on reducing America's trade imbalances.

Taiwan trade surplus

5. Malaysia's Ministry of Economic Affairs is set to submit a new income classification proposal to the Cabinet, aimed at ending gasoline subsidies for the wealthiest 15% of the population.

Malaysia Ministry of Affaires

✅ Key Takeaways: 

Everyone is focused on the jobs data, as it is crucial for assessing the future direction of U.S. monetary policy.

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