CLN
Key News
Asian equities were largely higher except for South Korea and Mainland China, though off intra-day lows, as investors brushed off the Fed’s tougher talk on US interest rate cuts. The Asia dollar index was flat versus the US dollar, though CNY/renminbi was slightly off. Mainland China’s move is despite the December Caixin Services PMI increasing to 52.9 from November’s 51.5, reaching its highest level since July 2023 in the twelfth month of expansion and beating expectations of 51.6. Notice many headlines about this economic data point? Me neither, though, as our trader friend Dave says, “Market no care, you no care.”
Mainland China rebounded from intra-day lows on the Ministry of Finance’s Lan Fo’an speaking on expanding the budget deficit to support the economy and extending preferential tax policies for small/micro enterprises, individuals, and industrial and commercial households. President…
