Reply To: Traders Market Weekly: Santa Brought Coal in 2022


China’s November Retail Sales -5.9% yr/yr (expected -3.7%; last -0.5%), November Industrial Production 2.2% yr/yr (expected 3.6%; last 5.0%), and November Fixed Asset Investment 5.3% yr/yr (expected 5.6%; last 5.8%). November House Prices -1.6% yr/yr (last -1.6%)
Japan’s November trade deficit JPY2.03 trln (expected deficit of JPY1.68 trln; last deficit of JPY2.17 trln). November Imports 30.3% yr/yr (expected 27.0%; last 53.5%) and Exports 20.0% yr/yr (expected 19.8%; last 25.3%). October Tertiary Industry Activity Index 0.2% m/m (expected 0.4%; last -0.2%)
South Korea’s November Import Price Index 14.2% yr/yr (last 19.8%) and Export Price Index 8.6% yr/yr (last 13.5%)
Australia’s November Employment Change 64,000 (expected 19,000; last 43,100) and full employment change 34,200 (last 47,100). November Unemployment Rate 3.4%, as expected (last 3.4%) and Participation Rate 66.8% (expected 66.6%; last 66.5%). MI Inflation Expectations 5.2% (last 6.0%)
New Zealand’s Q3 GDP 2.0% qtr/qtr (expected 0.9%; last 1.9%); 6.4% yr/yr (expected 5.5%; last 0.3%)
In news:
Equities in China and Hong Kong were pressured by weak November growth figures while property names were also among the laggards.
China’s National Stats Bureau reiterated that the foundation for an economic recovery is not solid yet. The Chinese government is expected to release a 12-year plan for expanding domestic demand.
Hong Kong Monetary Authority followed yesterday’s fed funds rate hike with its own 50-bps increase to 4.75%, as expected.