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HAPPY NEW YEAR!!!
Iran sent a warship to the Red Sea after the U.S. Navy destroyed Houthi vessels that attacked a Maersk cargo ship.
tensions ramped up already…
China
Domestic travel in China was up more than 150% yr/yr during the New Year’s weekend, according to Xinhua.
China’s December Caixin Manufacturing PMI rose to 50.8 from 50.7 (expected 50.4).
December Manufacturing PMI fell to 49.0 from 49.4 (expected 49.5)
Non-Manufacturing PMI rose to 50.4 from 50.2 (expected 50.5).South Korea
President Yoon said that the domestic equity market is undervalued.South Korea’s December S&P Manufacturing PMI fell to 49.9 from 50.0.
December trade surplus reached $4.48 bln (expected surplus of $6.26 bln; last surplus of $3.78 bln) as imports fell 10.8% yr/yr (expected -11.4%; last -11.6%) and exports rose 5.1% yr/yr (expected 6.6%; last 7.7%).Singapore
Q4 GDP expanded 1.7% qtr/qtr (last 1.3%), growing 2.8% yr/yr (last 1.0%).
Q4 URA Property Index was up 2.7% qtr/qtr (last 0.8%).Australia
December Judo Bank Manufacturing PMI dipped to 47.6 from 47.7 (expected 47.8)
December Commodity Prices were down 10.7% yr/yr (last -12.8%).Eurozone
European Central Bank policymaker De Cos repeated that the timing of rate cuts will depend on data.EZ November M3 Money Supply was down 0.9% yr/yr (expected -1.0%; last -1.0%).
EZ November Private Sector Loans were up 0.5% yr/yr (expected 0.8%; last 0.6%) and loans to nonfinancials were unchanged yr/yr (last -0.3%).Eurozone’s December Manufacturing PMI rose to 44.4 from 44.2 (expected 44.2)
Germany’s December Manufacturing PMI rose to 43.3 from 42.6 (expected 43.1).
France’s December Manufacturing PMI fell to 42.1 from 42.9 (expected 42.0).
Italy’s December Manufacturing PMI rose to 45.3 from 44.4 (expected 44.4).
Spain’s December Manufacturing PMI dipped to 46.2 from 46.3 (expected 47.0).Commodities:
WTI Crude: +1.9% to $73.00/bbl
Gold: +0.2% to $2076.00/ozt
Copper: -0.3% to $3.877/lb
Currencies:
EUR/USD: -0.8% to 1.0960
GBP/USD: -0.6% to 1.2645
USD/CNH: +0.4% to 7.1484
USD/JPY: +0.9% to 142.16Equity indices in the Asia-Pacific region ended Tuesday on a mixed note while markets in New Zealand and Japan were closed with Japan’s Nikkei scheduled to remain closed on Wednesday.
Japan’s Nikkei: -0.2%,
Hong Kong’s Hang Seng: -1.5%,
China’s Shanghai Composite: -0.4%,
India’s Sensex: -0.5%,
South Korea’s Kospi: +0.6%,
Australia’s ASX All Ordinaries: +0.5%.South Korea’s President Yoon said that the domestic equity market is undervalued.
Major European indices trade on a mostly lower note while Spain’s IBEX (+0.6%) outperforms with bank stocks contributing to the relative strength.
STOXX Europe 600: -0.2%,
Germany’s DAX: -0.2%,
U.K.’s FTSE 100: -0.2%,
France’s CAC 40: -0.4%,
Italy’s FTSE MIB: +0.4%,
Spain’s IBEX 35: +0.6%.The dollar is continuing last week’s rebound against the euro and Sterling.
Manufacturing PMI readings from Germany, France, U.K., Spain, and Italy remained in contractionary territory, but they were a bit better than expected.
Apple (AAPL 188.87, -3.66, -1.9%): downgraded to Underweight from Equal Weight at Barclays, citing weakness in iPhone sales volume among other factors; Key antitrust decisions await Apple (AAPL) this year, according to FT
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