📉 Markets on Edge
Asian markets are trading cautiously ahead of the Fed's December meeting. A 25bps rate cut is expected, but the spotlight is on 2025 guidance.
📊 Wall Street struggled overnight, with the NASDAQ pulling back from record highs and the Dow Jones extending its worst losing streak in over 40 years. US futures remain flat in Asian trading.
🇰🇷 South Korea: The KOSPI rose 1% as Acting President Han Duck-soo reassured markets following President Yoon Suk Yeol's impeachment.
🇦🇺 Australia: The ASX 200 edged up 0.2%.
🇸🇬 Singapore: The Straits Times Index dipped 0.3%, reflecting mixed sentiment.
💴 China Stimulus
China plans a fiscal boost for 2025, targeting a record 4% GDP deficit, up from 3%. This translates to an additional 1.3 trillion yuan ($179.4B) in spending.
📈 Shanghai Composite +0.7%, CSI 300 +0.6%, Hang Seng +0.9%.
🚗 Big Auto Merger?
Japanese automakers Honda and Nissan are in talks for a merger that could create the world’s third-largest carmaker.
📌 Nissan +22%, Mitsubishi +13%, Honda -2%.
⚡ This comes as legacy automakers face growing competition from Tesla and Chinese EV makers.
💵 Dollar Strength
The dollar is near three-week highs, supported by strong US retail sales and expectations of a hawkish Fed.
🇦🇺 AUD hit a one-year low at $0.6325.
🇳🇿 NZD dropped to a two-year low at $0.5748.
🛢️ Oil Developments
Iran’s Revolutionary Guards now control 50% of oil exports, up from 20% three years ago, complicating sanctions enforcement.
🛢️ WTI: $70.60 | Brent: $73.34
💊 Eli Lilly Breakthrough
Eli Lilly’s Alzheimer’s drug, Kisunla (donanemab), has been approved in China after previous authorisations in the US, UK, and Japan.
💵 US price: $32,000/year, higher than rival Leqembi at $26,500.
📉 Crypto Markets
Bitcoin retreated from its all-time high of $108,152, now trading at $103,500. Ethereum fell 5%, down to $3,832.
✨ Commodities
🥇 Gold: Holding steady at $2,646 as dollar strength weighs on sentiment.
🥉 Copper: -0.4% to $8,973 despite China’s stimulus optimism.
🏛️ Congress Targets China
US lawmakers will vote on expanded restrictions for investments in Chinese tech, focusing on AI and security-sensitive sectors.
🛩️ Boeing Strike Ends
Boeing resumed production for its 737, 767, and 777/777X programs after a seven-week machinists’ strike. FAA limits remain at 38 MAX planes per month.
🌍 Stay tuned for updates! 🚀
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