China’s December New Loans CNY1.40 trln (expected CNY1.10 trln; last CNY1.21 trln) and December Total Social Financing CNY1.31 trln (expected CNY1.60 trln; last CNY1.99 trln)
Japan’s November Household Spending -0.9% m/m (expected -0.5%; last 1.1%); -1.2% yr/yr (expected 0.5%; last 1.2%). December Tokyo Core CPI 4.0% yr/yr (last 3.7%) and Tokyo Core CPI 4.0% yr/yr (expected 3.8%; last 3.6%)
South Korea’s November Current Account deficit $620 mln (last deficit of $880 mln)
Tokyo’s yr/yr CPI rate accelerated to its fastest pace in 42 years in the December reading.
China Securities Daily noted that analysts forecast stable inflation around 2.0% in 2023, but also see a risk of a rise past 5.0%.
Chinese officials are expected to cut the value added tax for small businesses this year.
China will reportedly halt the issuance of visas to Koreans until South Korea reverses entry restrictions on Chinese citizens.
Taiwan Semiconductor Manufacturing Company reported that sales in 2022 hit a record of TWD2.26 trln, up 42.6% yr/yr.