- Yen finally finding some small bids as Japan's Cabinet approves 21tln stimulus package
- U.S. charges four in Nvidia chip-smuggling case, revives calls for chip tracking
- Bitcoin, Ether continue to slide - crypto crush
- Ueda:inflation to converge around our target sometime from latter half of next fiscal year
- Offshore yuan not artificially cheap, Mizuho says, citing stronger regional positioning
- BoJ Gov Ueda says prospect of economy, price forecasts materializing increasing (rate hike
- Recap - Japan export rebound continues in October despite lingering U.S. weakness
- Japan says debt ratio to edge lower as govt, BOJ work toward stable inflation
- Equities here in APAC taking a hit, as you'd expect
- PBOC sets USD/ CNY reference rate for today at 7.0875 (vs. estimate at 7.1154)
- EU explores investment in Australian resources as trade talks set to restart
- Bank of Japan Governor Ueda says weak yen pushes up import prices, factor in higher CPI
- Japan preliminary manufacturing PMI for November 48.8 (prior 48.2)
- Bessent wants more Fed rate cuts (Yes, I know, Bessent parroting Trump is not news)
- Japanese finance minister Katayama - another attempt at verbal intervention yen support
- UK consumer confidence falls ahead of budget as households brace for tax hikes
- Singapore lifts 2025 growth forecast after Q3 GDP beats expectations
- Japan exports beat expectations in October as Asia and EU demand pick up
- Fed’s Paulson urges caution on December rate cut decision as job risks edge higher
- Japan fin min with some verbal intervention to try to support the yen
- Japan November Core CPI 3.0% (3.0% expected, prior 2.9%)
- Recap - Japan readies ¥21.3tn (USD 135bn) stimulus, largest since Covid
- ICYMI - Morgan Stanley drops December Fed cut call after strong September payroll rebound
- ICYMI - Trump's latest cave in, slashes tariffs on Brazil. Every day brings a TACO story.
- Top Bitcoin whale sells entire $1.3bn BTC stack as sentiment fades
- Australian preliminary November PMIs: Manufacturing 51.6 (prior 49.7)
- investingLive Americas market news wrap: Ugly price action in a big stock market reversal
- New Zealand October trade improves, both imports and exports higher m/m
- $20bn extra bail out for Argentina - banks say No
- Japan trying some verbal yen intervention after the close, can't blame 'em for trying
- The major indices tumble as buyers that the open sell into the close
- Fed's Goolsbee is uneasy about cutting interest rates in the face of too-high inflation
- Nasdaq and the S&P 500 break the October low
Major FX traded in subdued, narrow ranges. Even the yen — the market’s focal point thanks to a wave of data, policy hints and fresh fiscal headlines — barely budged, with USD/JPY holding around 157.46, until a final dip.
Japan’s November flash PMIs were mixed:
Manufacturing remained in contraction for a fifth month at 48.8, an improvement from 48.2.
Services held firm at 53.1, marking continued resilience.
The composite PMI rose to 52.0, its eighth month in expansion.
Inflation firmed modestly, staying well above the 2% target on all three measures:
Core CPI: 3.0% y/y (prior 2.9%)
Headline CPI: 3.0% y/y
Core-core (ex-food & energy): 3.1%
All readings aligned with expectations and support the case for near-term BOJ tightening.
Exports were a bright spot. Shipments rose 3.6% y/y, beating the 1.1% consensus and marking a second month of gains, helped by resilient demand in Asia and a softer yen. Exports to the U.S. fell 3%, the seventh straight monthly decline, though the tariff impact appears more limited than feared.
Governor Ueda emphasised that currency volatility is increasingly feeding into import prices and inflation expectations. He said the BOJ will scrutinise FX pass-through closely and reiterated that the bank’s baseline remains further rate hikes if the economy and inflation track forecasts. Ueda noted that the likelihood of those projections materialising is increasing, reinforcing expectations of further, gradual policy normalisation.
The yen finally gained a little more on headlines that the cabinet approved a ¥21.3 trillion stimulus package, Japan’s largest since the pandemic, with ¥17.7 trillion in fresh spending. Investors remain wary of the heavy funding requirements.
---
EU Trade Commissioner Maros Šefčovič said Brussels is exploring equity stakes, long-term offtake agreements, and joint investments in Australian resources projects as part of renewed trade-deal momentum.
He expects another round of Australia–EU FTA talks early next year, with critical minerals emerging as a central pillar. Australian equities underperformed, falling to a five-month low.
-
Singapore’s economy beat expectations in Q3, prompting the government to lift its 2025 GDP forecast to ~4.0% (from 1.5–2.5%). Stronger global demand and resilient regional growth drove the upgrade.
The Monetary Authority of Singapore (the country's central bank) said its policy stance remains appropriate with the output gap positive this year and normalising in 2026.
-
Chicago Fed President Austan Goolsbee warned against front-loading rate cuts, saying inflation has been “steady at best, and worse by some measures.” He remains uneasy about adding a third consecutive cut in December and stressed the Fed needs more clarity before easing further.
-
Crypto fell again. Bitcoin whale Owen Gunden, the world’s eighth-largest individual BTC holder, fully liquidated his 11,000-BTC stack (~$1.3bn) over the past month, delivering a psychological blow to sentiment.
Oil remained heavy amid broader risk caution.
Asia-Pac stocks:
- Japan (Nikkei 225) -2.4%
- Hong Kong (Hang Seng) -2.1%
- Shanghai Composite -1.9%
- Australia (S&P/ASX 200) -1.6%, hit five month lows
