- China's Xi and Spain’s King vow deeper ties, citing a trusted strategic partnership
- Chinese state media is paying out on Japan PM Takaichi, "spewing sh*t"
- Huawei gains state backing as chip shortages worsen under U.S. curbs
- Fed's Barr speech in Singapore - no comment on monetary policy or his economic outlook
- RBA’s Hauser says policy likely still restrictive but under review amid uneven data
- Nomura expects Fed to pause in December as labour market stays firm
- McDonald’s flags pressure from SNAP freeze as shutdown squeezes low-income consumers
- Fed divisions widen as inflation-versus-jobs debate clouds path to rate cuts
- Chinese banks inflate lending data with short-term “phantom” loans
- Trump plans new offshore oil drilling near California and Alaska
- Goldman forecasts 50,000 U.S. job loss in October, first since 2020
- PBOC sets USD/ CNY mid-rate at 7.0833 (vs. estimate at 7.1141)
- White House explores overhaul of shareholder voting rules
- Beware of the triple top in gold
- Trump says is going to lower some tariffs on coffee
- Australian Q3 housing finance jumps higher: Home loans +9.6% q/q (+2.6% expected)
- Goldman delays China ‘dual cut’ to 2026, expects gradual yuan appreciation
- RBA Assistant Governor (Financial System) Brad Jones says markets struggling to price risk
- State Street risk appetite index eases to neutral as investors turn defensive
- Reuters November Tankan shows manufacturing sentiment improving, services stable
- UBS targets S&P 500 at 7,300 as Fed cuts and AI spending extend U.S. equity rally
- Reserve managers drift from dollar into smaller currencies, Standard Chartered says
- Japan’s government bond yields surge to highest in years, signalling regime shift
- China to restrict U.S. military access with new rare-earth export system
- investingLive Americas market news wrap: Weekly ADP employment cools
- Dow stocks lead the winners. Nasdaq moves lower. S&P modestly higher
Japan’s manufacturing sentiment surged to its highest since early 2022, led by autos and electronics as a weak yen and strong chip demand buoyed exporters. The service-sector mood held firm, though firms warned that Trump’s tariff policies could cloud the export outlook.
The upbeat Reuters Tankan survey reinforced expectations the Bank of Japan will remain patient on policy normalisation, with the weak yen continuing to support exports and equities, particularly in autos and tech. Even so, both the yen and Nikkei retreated during the session, with USD/JPY touching nine-month highs above 154.60. The sell-off wasn’t confined to Japan: the South Korean won also slid to its lowest since April 9.
In Australia, home loans surged beyond expectations in Q3 to a record high, marking the fastest increase since Q1 2021. The rise underscores how easier monetary conditions have reignited credit growth and property demand—giving the Reserve Bank yet another reason to stay cautious on policy easing.
Later, RBA Deputy Governor Andrew Hauser said policy remains restrictive but under review, with the board debating how tight conditions still are. He downplayed the consumer sentiment rebound, noting consumption shows only a modest, gradual recovery. His remarks reinforced expectations that the RBA will hold rates steady well into 2026, maintaining a mildly restrictive stance until clearer evidence of durable disinflation and stable growth emerges.
The Australian dollar eased alongside other majors amid a broader USD advance, with EUR, GBP, and NZD also weaker against the greenback.
Asia-Pac stocks:
- Japan (Nikkei 225) -0.1%
- Hong Kong (Hang Seng) +0.6% Hong Kong stocks pushed to near a 1-month high
- Shanghai Composite -0.2%
- Australia (S&P/ASX 200) -0.1%
Gold dropped back from a triple top circa US$4145.
