🌅 Morning Update (04.12.2024) 📉 South Korea in focus: Markets plunge as President Yoon Suk-Yeol's brief martial law declaration triggers political crisis. 🛑 KOSPI: Down 2% as opposition readies impeachment bill. 💱 Korean Won: Stabilises after hitting a 2-year low, likely due to central bank intervention. 📊 Asian markets: 📉 Nikkei: -0.4% 📉 CSI 300: -0.3% 📈 Thailand SET: +1.3% on rate-cut optimism. 📉 Australian stocks: -0.5% after weaker-than-expected GDP data. 🇦🇺 Australian economy: Q3 GDP: +0.8% YoY (vs 1.1% forecast). 💵 AUD/USD: Drops 1% to a 4-month low. 🔮 RBA rate cut predictions: ANZ/Westpac expect May 2025; Capital Economics forecasts Q2 easing. 🇨🇳 China: 📉 Services PMI: Slips to 51.5 in November (from 52.0). 🚀 Chip stocks rally after government discourages US chip purchases. 🇹🇭 Thailand: CPI: +0.95% YoY in November (below 1.1% forecast). 💡 Finance Minister: Signals potential rate cut amid subdued inflation. 🇮🇳 India: 💪 Services PMI: Strong at 58.4 in November despite rising prices. 🏢 Record hiring pace with solid business sentiment. 🎤 All eyes on Fed Chair Powell's speech: Markets await hints on rate outlook. 📈 US Dollar Index: +0.1%, extending its streak. 📈 Commodities: 🪙 Gold: Up to $2,646 on South Korea tensions and Middle East conflict concerns. 🛢️ Copper: -0.3% to $9,096/ton. 💎 Rare earth stocks: Surge as China bans gallium and germanium exports to the US. Australia's Lynas: +6% Iluka Resources: +4% 📢 South Korea steps in: Finance ministry pledges "unlimited" liquidity support. Bank of Korea announces special repo ops and looser collateral policies. 🔑 Key events ahead: Fed Chair Powell's speech 🗣️ PMI data for France, Germany, UK, eurozone 📊 French no-confidence vote 🗳️