China’s November trade surplus $69.84 bln (expected surplus of $79.05 bln; last surplus of $85.15 bln). November Imports -10.6% yr/yr (expected -5.0%; last -0.7%) and Exports -8.7% yr/yr (expected -3.6%; last -0.3%). November FX Reserves $3.117 trln (expected $3.100 trln; last $3.052 trln)
Japan’s December Reuters Tankan Index 8 (last 2). October Leading Index 99.0 (expected 98.4; last 98.2) and Coincident Indicator -0.9% m/m (last -0.5%)
Australia’s Q3 GDP 0.6% qtr/qtr (expected 0.7%; last 0.9%); 5.9% yr/yr (expected 6.2%; last 3.2%). November AIG Services Index 45.6 (last 47.7). October Building Approvals -6.0% m/m, as expected (last -8.1%)
China reported a smaller than expected trade surplus for November due to bigger than expected decreases in imports and exports.
Reports from China indicate that most coronavirus testing and quarantine requirements have been lifted.
Japan’s government indicated that it is not ruling out any measures to fund higher defense spending. This follows reports that defense spending will be increased by 50% over the next five years.
The Reserve Bank of India raised its repurchase rate by 35 bps to 6.25%, as expected.