Morning Wrap (11.12.2024)
📊 Asian Markets
Mixed performance ahead of key US inflation data:
🇯🇵 Nikkei: Flat
🇨🇳 CSI 300: +0.2%
🇭🇰 Hang Seng: -0.6%
🇰🇷 KOSPI: +0.8%
🏦 China’s Policy Signals
Central Economic Work Conference starts today.Politburo hints at looser monetary policy & fiscal stimulus for 2025.⚠️ ANZ: US tariffs could cut 🇨🇳 GDP by 1.5%.
🌍 Geopolitical Tensions
Syria: Rebels overthrow Assad, taking Damascus.
Markets eye regional stability & 🇮🇷 Iran’s role.Taiwan: Raises alert over 🇨🇳 naval activity.
📈 Japan’s Inflation & BOJ Speculation
Wholesale inflation rises for 3rd month.
Fueling 🔥 BOJ rate hike debate ahead of next week’s Fed meeting.
💥 South Korea Turmoil
President Yoon under criminal investigation over martial law declaration.
Police raid presidential office amidst ongoing unrest.
🛢️ Commodities
Oil: Slight gains
🛢️ Brent: $72.67, WTI: $69.07.
⚡ API: Unexpected 0.5M barrel build in 🇺🇸 inventories (vs 1.3M draw forecast).Gold: Steady at $2,694 on geopolitical tensions.Copper: Rises to $9,277 on 🇨🇳 stimulus hopes.
📉 Myanmar’s Economy
Projected to shrink 📉 1% this year due to floods & conflict.
🌏 World Bank downgrades outlook.
🌟 Regional Highlights
🇸🇬 Singapore raises 2024 GDP growth forecast to 3.6% (from 2.6%).
MAS expected to maintain policy settings in January review.
🔜 What’s Next?
Eyes on 🇺🇸 US CPI data, Fed meeting, and BOJ decision.Key focus: China’s economic planning outcomes.
Morning Wrap (11.12.2024) was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.